Daily: Bearish consolidation in the pair has the potential to reach the middle Bollinger line (1.1351), despite the clear trend potential of the ADX, indicating the possibility of growth. We remind you that the upper Bollinger band has been broken, and this is a strong argument in favor of a bullish trend.
H4: The dynamic support line on the lower Bollinger envelope (1.1370) looks like a potential demand zone for EUR. Quotes are already located on the lower band, which makes the probability of its test very high.
H1: The intraday trend potential is not high, so we shouldn’t expect volatility of more than 55 points (1.1393-1.1447) today.
Scenarios:
- The main one is fluctuation in the range of 1.1393-1.1447.
- The alternative is to go down to 1.1370, then turn up.
Solutions:
- Sell from 1447 to 1.1393 and 1.1370.
- Buy from 1.1370.