Bulls retain their positional advantage

22.04.2021

Daily chart: the pair is predictably difficult to break below the 1.2000 support, from where the bulls may be interested in advancing towards the upper Bollinger band (1.2107). ADX remains in the extreme zone, so such chances must be considered very high. Although opening deals from the middle of the upper Bollinger envelope is always fraught with a possible lengthening of the correction in the direction of the middle line (1.1890).

Н4: local uptrend is in a well-visible channel. The potential volatility of the pair is limited by the size of Bollinger envelopes (1.1986-1.2073). Therefore, we do not expect euro above the level of 1.2073 today.

Н1: within the day there is a drop in the trend potential of the ADX, therefore, one of the most probable scenarios will be a flat in the range of 1.2008-1.2050 (Bollinger Bands).

Conclusions:
The main scenario is flat in the range of 1.2008-1.2050.
Alternative scenario – growth to 1.2073.
Trading solutions: purchases from 1.2008 to 1.2050 and 1.2073.