EURUSD – Two scenarios for today

20.03.2023

Daily: The pair is moving towards the upper boundary of the Bollinger envelopes (1.0734). The ADX trend potential remains low, so it is not sure that the bulls will have time to master this target today.

H4: Also, we must not forget about the breakdown of the lower Bollinger envelope, which often leads to sell-offs from the mid-band area (1.0646).

H1: the intraday correction is aimed at the middle Bollinger band (1.0625), where it will be decided whether the buyers can get active in such conditions.

Scenarios:

Main – pullback to 1.0625, then rise to 1.0700.
Alternative – decrease to 1.0586.

Recommendations: search for possible signals to Buy in the area of 1.0625 to 1.0700.