EURUSD – Upward reversal is questionable

13.07.2022

Daily: despite the fact that the pair made a new low again, the impact of the psychological level of 1.0000 was affecting it yesterday. Today, as we can see, the lower Bollinger band is lower, so another extremum cannot be ruled out.

H4: Here the lower Bollinger band points to 0.9969, where the price is likely to go today. Sales area – 1.0041-1.0085.

H1: Another possible scenario for the day could be a sideways trend within the Bollinger envelope range (1.0017-1.0063). there is a very low ADX trend potential on the hourly chart.

Scenarios:

  • The main one is a flat in the range of 1.0017-1.0063.
  • Alternative – decrease to 0.9969.

Recommendations: Selling from 1.0063 to 1.0017 and 0.9969.