Bears’ target is 1.1782

25.03.2021

Daily chart: the euro continues to fall. The nearest target of sellers is the lower Bollinger band (1.1782), which can be worked out already today, inasmuch as ADX is approaching the trend zone.

Н4: locally the pair is consolidating in the middle of the range of the lower Bollinger envelope (1.1782-1.1867). The upper border of this corridor can be considered as the optimal area for selling.

Н1: the intraday dynamics of the pair is still flat, and the trading range may be limited well by the zone 1.1807-1.1831. Meanwhile, it is necessary to take into account the rather intense news background today, both in the Eurozone and in the United States, which may affect a much higher level of volatility.

Conclusions: decline to 1.1782.
Trading decisions: sales to 1.1782.