EURUSD – Bullish reversal expected

12.01.2022

Daily: ADX could hit trending readings by the time price starts testing the upper Bollinger band (1.1391), making further breakout of the upside more likely. Until this moment, the pair can continue to fluctuate in a flat.

Н4: Here there is a reaction to the resistance zone 1.1381-1.1391 (upper Bollinger line), where the angry bulls can be seen. So, the EUR may fall to the levels of 1.1337 and 1.1291.

Н1: The support zone at 1.1327 (lower Bollinger band) can limit the decline within the day. It protects upward market sentiment, so buyers can activate at this level.

Conclusions: A rebound up to 1.1381, after a decline to 1.1327.

Recommendations:

  • Sell ​​to 1.1327.
  • Buy from 1.1327 to 1.1381.