Daily: the Euro is still in the middle of the upper Bollinger envelope, making the traders’ work in this zone unbearable. This is because there is both high upside potential (to the upper line at 1.0607) and high probability of preliminary correction (to the middle band at 1.0200).

H4: The consolidation range exceeds 140 pips (1.0311-1.0456). Herewith, the pair has not yet tested the lower boundary of the envelopes.

H1: We note a breakdown of the lower Bollinger envelope, which is a signal of continuation of the decline. The optimal Euro offer zone is 1.0379-1.3084 (middle Bollinger band).

Conclusions: correction to the zone of 1.0379-1.0384, then decrease towards 1.0311.

Recommendations: Buy to 1.0379-1.0384 and Sell from the zone 1.0379-1.3084 to 1.0311.