We mark a promising buying zone

04.10.2021

Daily chart: the pair is in the stage of a correctional wave development, which may well reach the middle Bollinger band (1.3702). Taking into account the previously punched lower envelope, intensive sales will be possible from here.

Н4: strong local resistance in the 1.3575 zone (upper Bollinger line) led to the formation of a bearish inside bar, which may lead to a rollback towards the 1.3488-1.3510 zone (middle Bollinger bands from the H4 and H1 charts).

Н1: earlier the breakdown of the upper Bollinger envelope was fixed, so there is a very high probability that the correction will not go below the 1.3486-1.3510 zone. This particular zone is a promising area for buying.

Conclusions: a rollback to 1.3486-1.3510, then an increase to 1.3600.
Trading decisions: buying from the 1.3486-1.3510 zone to 1.3600.