Continuation of the market consolidation

28.09.2021

Daily chart: the euro continues to consolidate in the area of the lower Bollinger band (1.1686) against the background of a set of trend ADX turnovers. Until the lower Bollinger envelope is broken, the positions of the bulls look more preferable.

Н4: local Bollinger envelopes maintain a horizontal trading corridor, and the pair is in an upward phase. We are waiting for growth to the upper border of the range (1.1753), from where the price of the euro may fall to 1.1686 again.

Н1: the hourly lower Bollinger envelope has been broken, therefore, you need to be careful in the zone of the middle band (1.1726), from where sales in the direction of 1.1703 and 1.1686 are possible.

Conclusions:
The main scenario is an increase to 1.1726, then a decline to 1.1702 and 1.1686.
Alternative scenario is growth to 1.1753, then downward reversal.
Trading decisions: sales from zones 1.1726 and 1.1753 to 1.1702 and 1.1686.