Short-term downward reversal

02.04.2021

Daily chart: bearish internal bar outside the upper Bollinger envelope is a possible sign of the beginning of a downward correction in the direction of the middle Bollinger band (109.27).

Н4: locally, the bears are trying to gain a foothold below the middle Bollinger line (110.54). The next strong support is the lower band at 110.10.

Н1: intraday ADX shows mild growth, which may not be enough to break through support at 110.46. Therefore, the downside potential today appears to be limited by the 110.10 zone.

Conclusions: decrease 110.10.
Trading decisions: sales to 110.10.