Bearish potential

04.02.2021

Daily chart: the pair is trading down within the lower Bollinger envelope. This makes the target of 1.3530 relevant in the area of dynamic support which is provided by the lower Bollinger band.

Н4: local ADX pressure is not at the trend level, yet, so the bears will need to endeavor to break through the lower Bollinger envelope. Only in this case the price will drop to 1.3530.

Н1: on the hourly chart, bears are pushing the lower Bollinger envelope against the background of a strong ADX trending state. Therefore, a negative outlook is the most probable.

Conclusions: decline to 1.3530.
Trading decisions: selling to 1.3530.