Sellers’ advantage

13.07.2021

Daily chart: the pair did not pass the barrier in the form of the middle Bollinger band (1.1886), therefore, a drop of almost 100 points is possible to the support area of 1.1788 (the lower Bollinger line). Meanwhile, the ADX went down, so the movement will probably be accompanied by systematic local corrections.

Н4: the nearest strong local support is located at 1.1810 (lower Bollinger band). A break below is unlikely – ADX is in the weak zone.

Н1: an intraday attempt to break the lower Bollinger envelope occurs against the background of the correcting ADX. Therefore, a pullback to the middle band (1.1859), where the main supply area will be, can be expected from the support in the 1.1835 zone.

Conclusions: decline to 1.1835, then growth to 1.1859, after which the decline will continue.
Trading decisions: selling from the 1.1859 zone to 1.1810.