Upward correction may continue

09.11.2021

Daily chart: the scenario with the beginning of an upward correction, which will probably be able to reach the middle Bollinger band (1.3689), where a potentially strong selling area is located, has justified itself. This assumption is related to the presence of a breakdown of the lower envelope, which should not be forgotten during this growth.

Н4: locally, the quotes are already in the upper Bollinger envelope, which may also contribute to the restoration of the “British” to the upper band (area 1.3689). It is significant that this dynamic resistance level is in the same place as the daily average.

Н1: within today the quotes are unlikely to rise above the round level of 1.3600, where the hourly upper Bollinger band is located. The optimal buying zone is 1.3523 (Bollinger middle line).

Conclusions: growth to 1.3600, with an eye on continued growth in the direction of 1.3689.
Trading decisions: buying to 1.3600 and 1.3689 (extraday).