Volatility may be below average

07.09.2021

Daily chart: the rebound down from the upper Bollinger band (1.1906) is confirmed. If the bulls still fail to break above this zone, the euro may correct towards the middle line (1.1771).

Н4: the local upward trend still remains relevant, although there is a sharp drop in the ADX trend potential. This reduces the probability of quotes growth above the 1.1897-1.1906 zone.

Н1: one of the possible intraday scenarios will also be sideways in the Bollinger envelope range (1.1859-1.1875). The hourly ADX is in the weak zone, and the Bollinger bands indicate potentially low volatility.

Conclusions:
The main scenario is flat in the range 1.1859-1.1875.
An alternative scenario is growth to the 1.1897-1.1906 zone, then a downward reversal.
Trading decisions: sales from the 1.1875-1.1906 zone.