EURUSD – Euro down to 1.0805

03.04.2023

Daily: A bearish insider bar was formed from the upper Bollinger band, which can be considered as the end of the upward wave for the euro. The next logical step would be a correction to the mid-band (1.0722).

H4: We also see strong resistance at 1.0805, where the bottom of the four-hour Bollinger Bollinger Bands is located. The price is unlikely to pass that barrier on the opening of the week.

H1: Friday closed amid strong bearish pressure on the ADX. This speaks to the exclusivity of the selling tactic at this stage.

Conclusions: decline to 1.0805.

Recommendations: Sell to 1.0805.