Target of bears is 1.3728

01.09.2021

Daily chart: dynamic resistance 1.3782 (middle Bollinger band) kept the bulls, which led to the formation of a bearish pinbar yesterday. Such a signal can work in favor of sales in the direction of the lower line (1.3628). But such a goal can be considered only in the medium term – the potential of the ADX is very low.

Н4: we note the stability of the local Bollinger envelopes, which provides the pair with a trading corridor within 86 points (1.3708-1.3794).

Н1: within the day on the way of the upward wave there will be a number of resistances – 1.3772, 1.3782, 1.3794. From each of these levels, a transition to a fall in the direction of 1.3728 (lower Bollinger line) will be possible.

Conclusions: flat in the range 1.3728-1.3772.
Trading decisions: sales from the 1.3772 zone to 1.3728.