- The bollinger bands are widening signalling increased volatility
- This can be substantiated by the increase in the ATR to a reading of 0.0202
- The fibonacci retracement levels have been drawn from a high of 4.33182 in September 2017 and a low of 4.12747 in February 2018
- The 50% level at 4.22965 will be an important resistance point in the period under consideration.
- The price is likely to close below this point
- The volatility in the pair has been low as can be seen by the low values in the ATR
- The pair has been trading in a range with the lower range at 4.1276 and the upper range at 4.1912
- I expect the range bound nature to continue
- I also expect the volatility to decrease to the low levels witnessed between November 20 17 and January 2018
- Using the highs and lows of the range the fibonacci retracement points are plotted
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