Marking a sales zone

13.03.2021

Daily chart: the pair failed to approach the middle Bollinger line (1.2040), continuing the decline in quotations in the direction of 1.1851. Anti-phase market movements are still possible, as evidenced by the low trend potential from the indicator.

Н4: in the 1.1900-1.1923 zone, there may be a demand for the euro within the Over&Under pattern. Therefore, if the price moves below this zone, it will be possible to speak about the cancellation of the upward reversal.

Н1: marking a strong intraday support in the 1.1923-1.1938 zone, from where the upward rebound is observed now. The price will probably rise to the middle Bollinger band (1.1967), after which a new phase of sales can be expected.

Conclusions: an upward rollback to 1.1967, then a decline to the 1.1900-1.1923 area.