Sales to 1.3600

25.03.2021

Daily chart: the next breakdown of the lower Bollinger envelope leaves no chances for the bulls. The pair, with a high probability, will go to further downward retraction in the direction of the nearest strong support in the 1.3545 zone. Meanwhile, the activity of the ADX indicator does not correspond to a possible impulse distribution yet, therefore, intermediate price rollbacks upwards cannot be ruled out.

Н4: local pressure of sellers on the ADX is at a high level, which may allow them to squeeze the instrument out of the lower Bollinger envelope and below the round level of 1.3600.

Н1: on the hourly chart, the ADX is also located directly near the trend zone. We are waiting for an attack downward, with a breakdown of the support at 1.3669 and the development of the level of 1.3600.

Conclusions: decline to 1.3600.
Trading decisions: sales to 1.3600.