EURUSD – How deep will be the correction of the euro?

14.11.2022

Daily: an intense breakdown of the upper Bollinger envelope may require a downward correction in the area of 1.0152, before the ADX indicator sets trend parameters.

H4: here we also see the development of a corrective wave aimed at the middle Bollinger band (1.0152).

H1: strong support within the day can be met in the area of 1.0273 (lower Bollinger Band). It is well seen that a fall below this mark will significantly worsen the quality of the bullish trend.

Scenarios:

Main – correction to 1.0273, then growth to 1.0370.
Alternative – in case of breakdown of 1.0273, further decline to 1.0152.

Recommendations: monitoring the market reaction in the support zone 1.0273, and then actions according to one of the scenarios.