The pressure on the euro maintains

09.08.2021

Daily chart: the pair has reached the lower Bollinger band (1.1741), where there is substantial support. Meanwhile, the bears maintain pressure on the euro, as evidenced by the trend ADX. Therefore, the probability of a downward breakdown is quite high.

Н4: the local lower Bollinger envelope has been broken, which is a signal that the quotes will continue to decline. ADX is in the strong zone, so the pair remains under pressure.

Н1: short-term consolidation range within the Bollinger envelopes (1.1741-1.1774). After gaining energy in this corridor, the decline in the euro will probably continue.

Conclusions: trading in the range of 1.1741-1.1774, then a decline in the direction of 1.1700.
Trading decisions: sales from the 1.1774 zone to 1.1700.