Marking two zones for sales

07.10.2021

Daily chart: the next update of the minimum occurs against the background of the preservation of the trend potential of the ADX indicator, which indicates a rather high probability of the continuation of the decline in quotations. Key dynamic support is 1.1528 (lower Bollinger band). As soon as it is broken, the speed of the fall can increase.

Н4: a breakdown of the lower Bollinger envelope was recorded locally, which is a signal for a continuation of the decline. Now the pair is in an upward phase, which is potentially limited by the middle Bollinger band (1.1590) – from here we are considering selling.

Н1: another possible zone of the euro supply is the current levels (1.1559), where the hourly Bollinger average line is located. The distance between this level and the supply area from the H4 chart is 30 points, but it can still be considered as the same area.

Conclusions:
The main scenario is a downward reversal from 1.1559 in the direction of 1.1521 and 1.1500.
Alternative scenario is growth to 1.1590, then downward reversal in the direction of 1.1521 and 1.1500.
Trading decisions: sales from zones 1.1559 and 1.1590 to 1.1521 and 1.1500.