Daily: Consolidation has lengthened significantly, breaking through the middle Bollinger band at 1.1346 yesterday. In the global spectrum, this does not significantly change anything so far – the market still has to work out the broken upper Bollinger band with a bullish movement.
Н4: Apparently, the local lower Bollinger band was also overcome, which gives reason to expect the price to drop to the zone of the round level 1.1300, where the lower Bollinger envelope is located now.
H1: The nearest resistance levels for the EURUSD pair are 1.1335-1.1346 and 1.1372 (middle and upper Bollinger bands).
Scenarios:
- The main one is going down from the zone 1.1335-1.1346 to 1.1300.
- Alternative – fall to 1.1300, after a rollback to 1.1372.
Solutions:
- Sell from 1335 and 1.1372 to 1.1300.
- Waiting for signals for Buy in the area of 1.1300.