Bearish potential accumulation

14.06.2021

Daily chart: the lower Bollinger envelope was broken on Friday, which is a signal for a continuation of the decline. Meanwhile, the ADX indicator is in a flat zone, therefore, we will probably see a preliminary rollback of quotes to the middle Bollinger band (1.2187).

Н4: we mark the local dynamic resistance 1.2155 at the middle Bollinger band, from where active sales will also be possible due to the broken lower envelope.

Н1: one of the possible scenarios for the day will also be flat within the Bollinger envelopes (1.2090-1.2120). The growth of quotations occurs against the background of the ADX correction, which indicates the absence of trend potential.

Conclusions:
The main scenario: flat in the range 1.2090-1.2120.
Alternative scenario: growth to 1.2155, then a sharp downward reversal.
Trading decisions: search for local sell signals in zones 1.2120 and 1.2155.