Sideways range

19.03.2021

Daily chart: as expected, the bulls, without the ADX trend support, could not consolidate in the upper Bollinger envelope. It is obvious that the trend towards consolidation is in the middle Bollinger band (1.3945).

Н4: the ascending local phase of the movement is limited by the resistance zone 1.3982 (upper Bollinger band). After working out this zone, we can expect again a decline in quotations to support 1.3895-1.3908.

Н1: the intraday trading corridor is localized by resistance at 1.3949-1.3955 and support at 1.3899-1.3908. ADX is going down, so the most probable scenario today is flat.

Conclusions: flat in the range 1.3899-1.3955.
Trading decisions: short-term deals in the range 1.3899-1.3955.