Decline to 1.3691

23.07.2021

Daily chart: the pair got a rebound from the middle Bollinger band (1.3795), which confirms the earlier forecast of a drop in quotes from this zone. Let’s remind that the market remains under the pressure of sellers after the lower Bollinger envelope was broken earlier.

Н4: the nearest strong local support is at 1.3691 (middle Bollinger band). ADX potential is decreasing, therefore, it is possible to stop in this zone today.

Н1: the hourly lower Bollinger envelope has been broken, which is a signal that the quotes will continue to decline. ADX is in close proximity to the trend zone. We expect a moderate decline to 1.3691.

Conclusions: decline to 1.3691.
Trading decisions: selling to 1.3691.