EURUSD continues to correct

08.12.2021

Daily: According to ADX, Eurodollar is gaining trending potential, although it is still located in the middle Bollinger envelope (1.1312). In order to consider an upward reversal, you need to consolidate above this level.

Н4: There is a breakdown of the local lower Bollinger band, which indicates a possible signal for the continuation of the downward movement. The sales area is 1.1312-1.1323, the support level is 1.1251-1.1266.

Н1: The resistance zone 1.1301-1.1312 (upper Bollinger band) is also highlighted on this frame of the chart. So, the cost is likely to roll back to supports at 1.1266, 1.1251, 1.1231.

Conclusions: Growth in the area of ​​1.1301-1.1312, then a downward correction to 1.1231-1.1251.

Solutions:

  • Sell ​​from 1.1301-1.1312 to 1.1231-1.1251.
  • Buy from 1.1231-1.1251.