The pair may decline to 109.46

16.06.2021

Daily chart: the pair is trading in different directions within the upper Bollinger envelope (109.46-110.38). This trend will probably continue, inasmuch as the upper Bollinger band has not been tested yet.

Н4: the local downward phase is preparing to test the important support at 109.87 (middle Bollinger band), which keeps the dollar from falling into the lower envelope. If the bears push this level, the quotes will drop to 109.46.

Н1: the hourly lower Bollinger envelope has been broken, and the ADX indicator has no trend indicators yet. We are waiting for a pullback to the middle Bollinger band (110.06), from where active sales can start to 109.46.

Conclusions: growth to 110.06, then decline to 109.46.
Trading decisions: selling from the 110.06 to 109.46 zone.