Daily: there is still pressure in the direction of the lower boundary of the Bollinger envelopes (1.1334). The further fate of the downtrend will depend on the buyers’ reaction in this zone.

H4: Breakdown of the lower Bollinger envelope is an obvious signal for the continuation of falling prices. Apparently, the pair will renew its minimum.

H1: Also one of the scenarios today is a flat inside the range of the Bollinger envelopes (1.1360-1.1446) — the bands are stable and the ADX is falling to the weak zone.

Scenarios:

• Main – flat in the 1.1360-1.1446 range.
• Alternative – decrease to 1.1320.

Recommendations: sales from 1.1446 zone to 1.1360 and 1.1320.