Negative forecast

14.04.2021

Daily chart: the pair is consolidating below the middle Bollinger band, which opens up space for bears to support 108.31 (lower Bollinger band). We also note the ADX reversal upward.

Н4: the local lower Bollinger envelope was broken, which is also one of the signs of a decline. The optimal entry zone is 109.06-109.37.

Н1: strong resistance within the day will be the area of the round level 109.00. However, a higher correction cannot be ruled out due to the absence of a breakdown of the lower Bollinger envelope here.

Conclusions:

The main scenario is a rollback to 109.06, then a decline to 108.73 and 108.33.

An alternative scenario is a correction to 109.37, then a downward reversal in the direction of 108.73.
Trading decisions: sales from the area 109.06-109.37.