Decline to 107.44

23.04.2021

Daily chart: dynamic support from the lower Bollinger band has moved lower again. This time – more than 20 points, indicating the level of 107.44. This is where sellers are targeting now.

Н4: strong local ADX potential may indicate an imminent exit beyond the lower Bollinger envelope (107.77-108.00), where the market is consolidating now.

Н1: we note strong support in the 107.77-07.83 zone, which is also under obvious selling pressure. This is evidenced by the extreme ADX. Therefore, we consider the continuation of the trading tactics downward from 108.00.

Conclusions: decrease to 107.44. It is possible to touch the zone 108.00 tentatively.
Trading decisions: sales from the zone 108.00 to 107.44.