Reversal upward from 109.09 is expected

22.09.2021

Daily chart: the breakdown of the lower Bollinger envelope, in the conditions of such weak reactions from the ADX indicator, does not mean anything – we expect a rebound up from the support zone 109.10-109.20.

Н4: the local lower Bollinger envelope also limits the potential decline in the zone 109.10-109.14. Buying in the direction of 109.67 can be considered from this zone.

Н1: the hourly lower Bollinger band is located at 109.09. There is a trendy bearish potential here, which can probably be neglected against the background of the absence of such potential on higher timeframes.

Conclusions: decline to 109.09, then growth in the direction of 109.67.
Trading decisions: buying from the area 109.09 to 109.67.