Flat scenario pans out. The major doesn’t leave lower Bollinger bands (108.19-108.78 range) and so far there are no signs showing this tendency might be over.
Local support at the area of lower Bollinger band (108.43) managed to trigger upward pullback to 108.68 (middle Bollinger band). Now currency pair remains inside local lower bands (108.43-108.68) and given very weak ADX readings we might get flat within these boundaries.
We note local flat channel 108.52-108.70 (Bollinger bands). As we see all three reviewed time-frames have flat readings.
Flat in the 108.52-108.70 range.
Short-term trades in the 108.52-108.70 channel.