Preparing for further decline

08.07.2021

Daily chart: the euro is gradually and consistently declining towards the lower Bollinger band (1.1736). The forecast for this development remains relevant against the background of the trend pressure from the ADX.

Н4: a local technical correction to the middle Bollinger band (1.1831) will allow sellers to get much more optimal entry points today.

Н1: short-term consolidation is also possible within the Bollinger envelopes (1.1782-1.1812). But here also the trend dynamics of the ADX indicator is observed, so an impulsive downward wave cannot be ruled out.

Conclusions:
The main scenario is flat in the range 1.1782-1.1812.
Alternative scenario is continued decline to 1.1734.
Trading decisions: sales from the 1.1812 zone to 1.1782 and 1.1734.