EURUSD – An upward reversal could happen at any time

04.09.2023

Daily: there is an obvious struggle in the zone of the middle Bollinger band. However, its result is unlikely to be formalized into a final movement before tomorrow’s non-farm data becomes available.

H4: the upper Bollinger envelope has been broken, indicating a possible upward reversal from the middle Bollinger band area (1.0859).

H1: there are four consecutive bars outside the lower Bollinger envelope. This is usually a reversal signal. Given the presence of a strong 1.0859 level nearby, it dramatically increases the chances of an upside reversal.

Conclusions: upward reversal from the zone of 1.0859.

Recommendations: Buy from 1.0859.