Euro may recover to 1.1800

25.09.2021

Daily chart: the scenario with a bounce up from the lower Bollinger band (1.1686) is confirmed, and the ADX indicator is approaching the trend zone. All this will contribute to the further recovery of the euro quotes at least to the Bollinger center line (1.1800).

Н4: from the first try the bulls could not pass the barrier in the form of resistance 1.1752 (upper Bollinger line). But, after a pullback down, such an attempt will definitely be repeated, and, probably, this time will be successful, as evidenced by the active bullish ADX.

Н1: we mark the potentially most promising buying entry area – 1.1726 (middle Bollinger band). Exactly from here we can expect the next upward impulse in the direction of 1.1800.

Conclusions: rollback to 1.1726, then growth to 1.1800.
Trading decisions: buying from 1.1726 to 1.1800.