Reversal upward from 1.3600 is expected

23.09.2021

Daily chart: the pair got a low close of trading outside of the lower Bollinger envelope. But, as before, the potential for a possible further decline seems to be very limited – the strongest medium-term support zone of 1.3600 is very close, and the ADX indicators, tentatively, will not be enough to expect a breakdown.

Н4: locally there is a bullish convergence of the RSI oscillator with the price chart. Moreover, there are also no figures of the ADX indicator necessary for a further fall. Therefore, the probable scenario will be an upward rebound from support at 1.3600.

Н1: on the hourly chart there is a residual potential for a decline to the 1.3600 zone. We look forward to testing this target today and the subsequent upward reversal.

Conclusions: decline to 1.3600, then growth in the direction of 1.3650.
Trading decisions: buying from the 1.3600 zone to 1.3650.