Daily chart: significant weakening of the bulls during approaching the upper Bollinger band (1.2026). Obviously, the psychologically important line for the euro at the level of 1.2000 also had its influence. However, we do not see any active development of a downward correction, which often occurs after a rollback from substantial levels. Is a “bear trap” preparing here? We will find out in the near future.

Н4: the range of local consolidation within the Bollinger envelopes is 1.1949-1.1987. We also note the presence of the O&U reversal pattern, the entry zone into which is located just at the upper border of the specified range.

Н1: the lower Bollinger envelope was broken on the hourly chart. Therefore, there is a high probability of sales from the middle Bollinger band zone (1.1969-1.1971).

Conclusions: a rollback to the 1.1969-1.1971 zones, then a decline to 1.1949, with a possible drop below, in the direction of 1.1900.
Trading decisions: sales from 1.1969-1.1971 to 1.1949 and 1.1900.