Decline to 1.1788

09.07.2021

Daily chart: the RSI oscillator does not have convergence with the price chart, so it is too early to talk about an upward reversal. The bears will probably maintain pressure on the pair until the lower Bollinger band (1.1736) is tested.

Н4: locally the euro is also trading down. The nearest strong support levels are 1.1825 and 1.1788. Taking into account the absence of the ADX trend potential, each of these levels will be able to stop the fall.

Н1: intraday dynamics of ADX is on the trend level, therefore, the priority scenario for today is further decline towards 1.1788.

Conclusions: decline to 1.1788.
Trading decisions: sales to 1.1788.