The pair keeps targeting at 1.1803

17.03.2021

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Daily chart: the euro continues to trade down in the direction of the 1.1803 zone (lower Bollinger band). Meanwhile, ADX is not in the area of trend activity, therefore, working off may be extended until the end of the week.

Н4: in the zone of local support at 1.1884 (lower Bollinger line), there is saturation of the bearish potential on the part of the ADX, which makes us expect a breakdown and a further drop in quotations.

Н1: the range of possible accumulation of potential within the day is 1.1884-1.1911 (size of Bollinger envelopes). We are waiting for going beyond this corridor for further downward distribution.

Conclusions: decline in the direction of 1.1850 and 1.1803.
Trading decisions: sells to 1.1850 and 1.1803.