Decline to 1.1753

06.08.2021

Daily chart: the pair is already in the lower Bollinger envelope, so the bears have a good chance of working out the 1.1753 support zone on the lower line. Strong news from the US (nonpharm) may also contribute to this.

Н4: ADX demonstrates strong bearish potential. If the support in the 1.1804 zone is successfully broken, the pair may reach the 1.1753 zone very quickly.

Н1: the hourly lower Bollinger envelope is also breaking through against the background of a strong trend ADX. Therefore, we are considering sales in the direction of 1.1753.

Conclusions: decline to 1.1753.
Trading decisions: sales to 1.1753.