EURUSD – The euro is approaching a key demand zone

30.10.2023

Daily: as expected, the euro rolled back to the middle Bollinger band (1.0560), from where it will be logical to go up again within the framework of working out the previously broken upper envelope.

H4: the area of 1.0541-1.0560 (the zone formed by the daily average and H4-lower Bollinger bands) looks like a promising demand zone.

H1: intraday correction completion in the area of 1.0560 (lower Bollinger band) cannot be ruled out either. We wait for the completion of this zone and buy.

Conclusions: testing of 1.0560 zone, then growth to 1.0700.

Recommendations: Buy from 1.0560 to 1.0700.