Daily: the lower Bollinger band is at 1.0583, which indicates that the bears intend to push the euro beyond the 6 figure. ADX is not too strong, and the factor of the coming weekend also does not cause great expectations of possible volatile movements.
H4: An unsuccessful attempt to break through the lower Bollinger envelope may result in the quotes retreat to the middle Bollinger band (1.0702), which will become a new sell-off area.
H1: inside the day there is also a bullish defense of the lower boundary of the Bollinger envelopes, so we are waiting for the market reaction to the resistance at 1.0661 (middle Bollinger band).
Scenarios:
- Main – growth to 1.0661 and 1.0702.
- Alternative – reversal down from 1.0661 and fall to 1.0625 and 1.0600.
Recommendations: search of local signals at the level of 1.0661.