Reversal down

14.07.2021

Daily chart: there is a rollback of quotations to the middle Bollinger band (1.3850), where the market consolidation will probably continue against the background of a decline in ADX indicators.

Н4: a local attempt to consolidate in the upper Bollinger envelope occurs in the absence of trend dynamics from the ADX side. This indicates a strong resistance in the 1.3848-1.3859 zone.

Н1: on the hourly chart the area 1.3849-1.3859 is also highlighted, where the H1-upper and Н4-middle Bollinger bands are merging. We are waiting for a rollback of quotes in the direction of 1.3825 and 1.3797.

Conclusions: decline to 1.3825 and 1.3797.
Trading decisions: selling from the 1.3825 and 1.3797 zones.