Target – 1.1782

24.03.2021

Daily chart: euro continued to fall, and now sellers are clearly aiming at working out the lower Bollinger band (1.1782). The ADX indicator is growing, although it has not reached the trend values yet. This indicates the growing pressure of bears and the dominance of the dollar.

Н4: the pressure on the lower Bollinger envelope from the side of sellers is huge. The probability of breakdown and consolidation lower is also high. The control support is at 1.1826, below which the fall may intensify again.

Н1: as we see, sellers have a total advantage and control on all monitored timeframes. Only sales can be considered in such a market. We are waiting for a pair in the 1.1782 zone.

Conclusions: decline to 1.1782.
Trading decisions: sales to 1.1782.