EURUSD – Quotes will fall to 1.0800

23.01.2023

Daily: euro makes another attempt to climb to the upper Bollinger band (1.0913). I must say that this dynamic level has risen slightly compared to yesterday. But it is still doubtful that the bulls today will be ready to surprise us with volatility.

Н4: here the Bollinger envelopes have retained their horizontal orientation, which limits the potential growth of quotations to the level of 1.0868 (upper band).

Н1: we mark a very tight resistance zone 1.0853-1.0868, where, moreover, we can track the supply zone within the Over&Under pattern. Thus, we expect testing of this zone and transition to a decline in the direction of 1.0801.

Conclusions: decrease from the zone 1.0853-1.0868 to 1.0801.

Recommendations: Sell from the zone 1.0853-1.0868 to 1.0801.