Mid-term structure of the market remains bullish. And though the trending potential of ADX indicator is insufficient so far, overall we can expect further growth of the quotes in direction of the round level 0.7400 and the upper Bollinger band.
Low local trending potential of ADX may prevent bulls from going above resistance at 0.7330-0.7335, where we would expect a correction in direction 0.7300 and lower. But such correction won’t cancel further scenario for growth to 0.7400, it will just postpone it a little bit.
Extremely weak intraday ADX. Thus we expect trading in the 0.7285-0.7335 range (the scope of Bollinger bands) as preparation for extension of growth in direction 0.7400.
Flat in the 0.7285-0.7335 range with aim at further growth to 0.7400 during the week.
Short-term trades to both sides inside the 0.7285-0.7335 range.
Mid-term longs from 0.7285 to 0.7400.