Euro recovery to 1.2046 is possible

11.03.2021

Daily chart: the upward technical correction of the euro continues, which may reach the middle Bollinger band (1.2046). ADX falls against this corrective wave, so we can confidently expect a downward reversal from the indicated level.

Н4: local trend dynamics is in favor of buyers. ADX is in the active zone, and the bulls are ready to break the upper Bollinger envelope. We are waiting for a pair at 1.2045.

Н1: the hourly chart shows the lowest potential, which leaves a chance for a correction in the direction of the middle band (1.1921). Therefore, this mark is the best possible price for purchases today.

Conclusions: growth to 1.2046.
Trading decisions: purchases to 1.2046.