Trading in a horizontal range

11.02.2021

Daily chart: the pair is not at new maximum, but based on the fact that ADX is not in the trend zone yet, today it is possible to move into a correction in the direction of 1.3791 (and even to 1.3697 – to the middle Bollinger band).

Н4: local trading within the upper Bollinger envelope (1.3791-1.3888). That 90 pip range may be quite enough for today’s intraday trading.

Н1: horizontal trading corridor within Bollinger envelopes (1.3822-1.3855). On all timeframes, there is relatively high activity from the ADX side, so a wider channel cannot be excluded.

Conclusions:
The main scenario is flat in the range 1.3822-1.3855.
An alternative scenario is a wider flat range 1.3800-1.3888.
Trading solutions: trading in both directions from the boundaries of the indicated ranges.