EURUSD – Possibility of a sell-off remains

14.09.2022

Daily: The touch of the upper Bollinger band at 1.0111 caused a strong fall of the price, which may indicate the continuation of the fall towards the lower boundary of the envelopes (0.9893).

H4: There is a very strong support at the level of 0.9953 (lower Bollinger band), where a bullish pin bar was formed. This combination is very promising for the bulls, who might restore the price to 1.0073-1.01111.

H1: But inside the day there will still be a danger of new sell-offs. We see a very low dynamic support level from the lower band (so low that it does not even fit on the chart), so bears might be very active at 1.0028 (middle Bollinger line).

Bottom line: Rise to 1.0028, then fall to 0.9893.

Recommendations: Sell from 1.0028 to 0.9893.