EURUSD – Bulls may not go above 1.0741

12.09.2023

Daily: an upward correction has started, which cannot be considered sustainable due to the fact that the lower Bollinger band (1.0677) was not strictly tested.

H4: here, as we can see, the Bollinger envelopes maintain a horizontal orientation, which makes the resistance at the upper band (1.0741) strong. Thus, the price may slide back to 1.0692.

H1: we confirm the intraday resistance at 1.0741 (upper Bollinger band) and consider selling from this zone in the expectation that the price will go down.

Conclusions: growth to 1.0741, then falling to 1.0692.

Recommendations: Sell from 1.0741 to 1.0692.