Maintaining correctional potential

13.05.2021

Daily chart: the downward technical correction continues in the direction of the middle Bollinger band (1.3947). The price is in the middle of the upper Bollinger envelope, which will also contribute to the decline.

Н4: we mark strong local dynamic support in the 1.4026 zone (lower Bollinger band). Low ADX trend potential may indicate limited volatility within the lower envelope (1.4026-1.4107).

Н1: the lower Bollinger band has not been tested yet (1.4026). Note the presence of a breakdown of the lower Bollinger envelope, which, against the background of bearish ADX pressure, may indicate a potential attack by sellers of the psychological zone 1.4000.

Conclusions: decline to 1.4000, with the potential to continue falling to 1.3947.