EURUSD – Marking a promising zone for selling

18.09.2023

Daily: sharp upward price rebound was triggered by testing the lower boundary of the Bollinger envelopes (1.0630). Thus, the bulls have a chance to recover first to 1.0706 and then higher to the middle band (1.0780).

H4: the lower Bollinger envelope has been broken, so the key zone of possible sell-offs for now is the middle Bollinger line (1.0706).

H1: there is traditional resistance in the upper Bollinger band area, but due to active ADX buyers can theoretically break to 1.0706.

Conclusions: growth to 1.0706, then reversal down to 1.0650.

Recommendations: Buy to 1.0706, Sell from 1.0706 to 1.0650.