We are waiting for the pair at 113.02

09.11.2021

Daily chart: the lower Bollinger band (113.02) has almost been tested, which casts doubt on the further decline in quotations. A price rollback is possible in the direction of the middle band (113.81).

Н4: locally, it is clearly seen that the area 113.02 has not been strictly tested yet, so we can still expect a prick of this zone. The lower Bollinger band is also here now, and such a merger of the daily and H4 levels is a very promising target for bears.

Н1: the hourly lower Bollinger envelope has been broken, so we can expect a sales of the instrument from the middle band (113.34) to the lower line (113.02). The activity of the ADX indicator is at the flat level, therefore, we are not considering a deeper drop in quotes.

Conclusions: a rollback to 113.34, then a decline to 113.02.
Trading decisions: selling from the 113.34 zone to 113.02.