1 - Yesterday, the price failed to settle above the 1.38195 level, and the entry point for buy positions became irrelevant. Then the price slid to the downside and confirmed the entry point for going short after breaking through the level of 1.37935. After that, the quote reached the first assumed target at 1.37829 and lacked a few points to hit the second target at 1.37738.
2 - On the M30 time frame, its decline has not reflected on the Bollinger bands. However, it was well seen on the M5 time frame when the price moved along the lower band as they opened outwards.
The bands have narrowed on M30 and went horizontal against each other, while the price is in the middle. From there, the price may move in any direction, so we should wait until it reaches any of the two bands. After it touches the bands, we can check the indicator and see whether it has opened outwards.
On H1, the bands are also narrowing, and the price is in the middle between them. So, it’s worth waiting until the price approaches either the upper or the lower band.
3 - On the 30-minute time frame, the AO indicator moved to the negative zone and approached the zero level. So far, the indicator has shown no other activity. Therefore, we should wait until it oscillates in either the negative or positive zone, which will confirm the direction of the price.
On the 1-hour chart, the AO indicator also loses momentum in the negative zone and moves towards the zero-level mark. Its further decline to the zero level will confirm the rise of the price while oscillating in the negative zone will indicate the continuation of the downtrend.
4 - If the price continues an uptrend movement, we may find the entry point for buy positions when the price breaks through and settles beyond the 1.38130 level. The first target is at 1.38195. After reaching this target, the price may head for 1.38287 and 1.38367.
5 -It's possible to see the entry point for going short when the price breaks through and settles beyond the level of 1.37829. In this case, the first target is at 1.37738 and the second one at 1.37636.
6 - On the M5 chart, the price is attempting to move towards the upper band, which is opened-wide than the lower one. Let’s see whether the price will continue to move further along the upper band or not.
7 - The AO indicator is near the zero mark. Since the price is moving sideways, it's impossible to get good signals from this indicator as it is more suitable for tracking momentum.
Therefore, we should wait until the AO indicator oscillates in either the negative or positive zone, which will generate a signal for a further price movement.
8 - The entry point for buy positions can be found after the price breaks through and settles beyond the 1.38 area. The first target will be at 1.38052 and the next one at 1.38130. We can consider the entry point for sell positions once the price breaks through and holds beyond the level of 1.37935.
In this case, the level of 1.37892 will serve as the first target, and then the price may move towards 1.37738.