The pair may recover to 1.2165

14.05.2021

Daily chart: euro confirms a bounce up from the middle Bollinger band (1.2081), which may allow the pair to recover to the upper line (resistance area 1.2165-1.2194). However, the trend potential of ADX is substantially decreasing, so the main phase of development may happen after the weekend.

Н4: the dynamic resistance level 1.2106 at the middle Bollinger line is being tested locally. It is this zone that protects the upper envelope, and so far, as we can see, buyers have not exerted trending pressure on this zone. Nevertheless, the scenario of further growth seems more probably.

Н1: there are attempts to break the upper Bollinger envelope on the hourly chart. If the bulls succeed, the price will rush to 1.2143 and 1.2165. ADX is growing, but has not reached the trend zone yet.

Conclusions: growth to 1.2143 and 1.2165.
Trading decisions: purchases to 1.2143 and 1.2165.