Bearish potential remains

01.07.2021

Daily chart: the pair maintains negative dynamics against the background of a very strong bearish potential in the ADX. The market is targeting 1.3730, where the lower Bollinger band is now.

Н4: local ADX pressure in favor of the bears remains in the support zone at 1.3783. We are waiting for a breakdown and further drop in quotations.

Н1: intraday dynamics of ADX is still at the flat level, so one of the possible scenarios for the day may be consolidation within the Bollinger envelopes (1.3796-1.3837).

Conclusions:
The main scenario is a decline in the direction of 1.3730.
An alternative scenario is flat in the range 1.3796-1.3837.
Trading decisions: sales from the 1.3837 zone to 1.3796 and 1.3730.