We are waiting for a downward reversal from the zone 1.3802-1.3819

29.03.2021

Daily chart: the pair maintains an upward correction in the direction of the middle Bollinger band (1.3869). We must not forget about the broken Bollinger lower envelope, therefore, the mid-term downtrend may continue at any time.

Н4: a drop in the trend potential of ADX is observed locally, which will make it difficult for quotes to rise above the 1.3819 zone (upper Bollinger band). Support is at 1.3743 (middle line). Therefore, the trading range can be limited by the upper Bollinger envelope.

LН1: a similar picture on the hourly chart: growth in quotes against the background of a decrease in bullish pressure on the ADX. We are waiting for touching the 1.3802-1.3819 zone and then a downward reversal to 1.3762 and 1.3743.

Conclusions: growth to 1.3802-1.3819, then decline to 1.3762 and 1.3743.
Trading decisions: sales from the 1.3802-1.3819 zone to 1.3762 and 1.3743.