Waiting for the fall to 1.1751

05.03.2021

Daily chart: the pair is trading down against the background of rising ADX trend indicators. Moreover, a breakdown of the lower Bollinger envelope was recorded yesterday. Therefore, amid the release of today’s “non-farms”, we can expect a sharp drop in quotations in the direction of 1.1751.

Н4: a local intense trend distribution also occurs with substantial bearish pressure from the ADX. This suggests a negative probable scenario for the euro.

Н1: the nearest dynamic support is at 1.1917. We note the colossal selling pressure on the hourly charts, which leaves little chance for the bulls today.

Conclusions: falling to 1.1751.
Trading decisions: sales to 1.1751.