Reversal down

13.05.2021

Daily chart: the upper Bollinger band (109.78) has been tested, from where a downward reversal can be expected, inasmuch as there is no breakdown potential of ADX.

Н4: in the area of local resistance at 109.70-109.78, a similarity of the “bullish flag” pattern is being formed. Therefore, a decline to the area of 109.00 (Bollinger Middle Line) would mean its cancellation.

Н1: the RSI oscillator has divergence with the price chart, which can be a sign of weakening buyers and, accordingly, another sign of a reversal.

Conclusions: decline to 109.00.
Trading decisions: sales to 109.00.