Limited bearish potential

15.11.2021

Daily chart: the ADX indicator shows substantial bearish pressure, therefore, against the background of the breakdown of the lower Bollinger envelope, we can expect an acceleration of the fall in quotations in the direction of new minimums.

Н4: low local ADX trend activity limits potential volatility within the lower envelope (1.3308-1.3344), but still promotes selling towards the lower range border (1.3308).

Н1: on the hourly chart, the ADX state can be considered as flat, so the decline can be suspended at the dynamic support 1.3395 (middle Bollinger band).

Conclusions: flat in the range 1.3353-1.3432.
Trading decisions: selling to 1.3395 and 1.3353.