Continuation of growth from the 1.1868 zone is possible

04.09.2021

Daily chart: the bulls succeeded in breaking through the upper Bollinger envelope yesterday, which sharply inflated the pace of the ADX indicator. Now the positions of buyers look much more advantageous, and the growth of the euro quotes may well reach the 1.1981 zone.

Н4: local resistance from the upper Bollinger band (1.1885) is holding back the upward wave, which also has signs of overbought. A rollback downward is possible, but even here it is necessary to note the trend state of the ADX, therefore, sell deals cannot be considered, inasmuch as growth can be continued at any time.

Н1: a promising zone of demand for the euro is the middle Bollinger band (1.1868), from where you can consider buying to 1.1889 and above.

Conclusions: pullback down to 1.1868, then growth to 1.1889 and 1.1900.
Trading decisions: buying from the 1.1868 zone to 1.1889 and 1.1900.