Market maintains bearish potential

13.10.2021

Daily chart: as expected, the euro continued to decline. Simultaneously with the pair, the lower Bollinger band is also falling, which is now 10 points below yesterday’s level (1.1489 versus 1.1499). Therefore, we can expect movement towards exactly this goal today.

Н4: the local lower Bollinger envelope is broken, which is one of the signals for the continuation of the decline. We can consider a rollback to the middle band (1.1556), from where the price of the euro will drop to the 1.1489 area.

Н1: on the hourly chart, the ADX trend potential is relatively low, so this can also be interpreted as a possibility of a correction to the 1.1547 area (Bollinger middle line).

Conclusions: a rollback to 1.1547, then a decline to 1.1489.
Trading decisions: selling from the 1.1547 zone to 1.1489.