The continuation of the correction to 1.1786 is possible

08.09.2021

Daily chart: the euro remains in a downward correction within the upper Bollinger envelope, which allows counting on the continuation of the pullback to the middle band area (1.1786). Here is a promising area of demand for buying, because the upper envelope was broken earlier, which often leads to the continuation of growth from the middle Bollinger band.

Н4: the local lower Bollinger envelope has also been broken, which is in line with the forecast for a further decline in quotations in the direction of 1.1786. ADX is outside the trend zone, so there is a high probability of a pullback to the 1.1858-1.1866 zone.

Н1: intraday activity of the ADX indicator is on the trend level, so a fall to 1.1786 is possible at any time. The optimal entry zone is the middle Bollinger band (1.1858).

Conclusions: a rollback to 1.1858, then a decline to 1.1786.
Trading decisions: sales from the 1.1858 zone to 1.1786.