Decline to 1.1401

12.11.2021

Daily chart: the pair remains outside the lower Bollinger envelope, but the ADX is still not in the trend zone. As we know, it very rarely happens that there are more than four bars outside the envelopes, therefore, despite the persistence of the perspectives for a decline, everything can turn to an upward reversal.

Н4: the local lower Bollinger band is located at 1.1401, which will be an excellent magnet for the price today.

Н1: we mark the intraday levels from which it is possible to sell – there are 1.1451 and 1.1474 (middle and lower Bollinger bands).

Conclusions: decline to 1.1401. Previously, a rollback to 1.1451 and 1.1474 is possible.
Trading decisions: selling from zones 1.1454 and 1.1474 to 1.1401.