Trading in the range 1.3708-1.3750

31.03.2021

Daily chart: the pair maintains a downward orientation towards support at 1.3660 (lower Bollinger band). ADX has not entered the trend zone yet, which may affect the decrease in volatility.

Н4: horizontally oriented local Bollinger envelopes, as well as the low trend potential of the ADX indicate substantial support in the 1.3708 zone (lower Bollinger line). From this zone, the pair may recover for a short time to 1.3768 and 1.3827.

Н1: probably, the intraday trading range will also be limited by the size of the Bollinger Bands (1.3708-1.3750). The market slowdown can be called typical for the first week of the month when the US releases NFP data (Friday, April 2).

Conclusions: flat in the range 1.3708-1.3750.
Trading decisions: short-term deals in the corridor 1.3708-1.3750.