Analysis method - “Trend’s Potential”
August 20, 2018
Daily chart: The major consolidates within lower Bollinger bands (110.37-111.10). The trend strength indicator ADX entered an active area, therefore, shortly, exit beyond this range will be possible.
H4: Downward phase of the movement in direction of lower Bollinger band (110.25). ADX doesn’t show breaking potential, therefore, there is a high probability of upward bounce
H1: We mark intraday horizontal (flat) corridor 110.38-110.68.
Expectations: Flat in the 110.38-110.68 range.
Trading recommendations: Trading in the 30-pips corridor 110.38-110.68.