Corrective potential

13.02.2021

Daily chart: a downward correction has started, which may reach the middle Bollinger line (1.3704). The bulls could not be managed to reach 1.3900, faced with irresistible resistance in the upper band (1.3844).

Н4: local support capable of stopping the decline – 1.3771 (lower Bollinger line), resistance – in the middle Bollinger band (1.3808-1.3818).

Н1: the lower hourly Bollinger envelope has been broken, which will contribute to further decline. The zone of possible further sales is 1.3808-1.3818 (middle Bollinger band).

Conclusions: a rollback to the 1.3808-1.3818 zone, then a decline to 1.3771.
Trading decisions: sales from the 1.3808-1.3818 zone to 1.3771.