EURUSD is returning to a zone of demand, bollinger bands assist in identifying possible oversold conditions as it breaks through the lower band. The bands have widened representing increased volatility. Price is likely to rise above the simple moving average line and possibly break through the weak high over the next 24 hours.
Although, I am not well experienced, so please do your own technical analysis!!
Although, I am not well experienced, so please do your own technical analysis!!
Comment:
UPDATE!! I may be totally wrong, because there has been a very recent double high. Price may continue to decline to the 1.091 zone or "Strong Low" and then increase again. We may see some fakeouts until then. I recommend waiting to see how price is moving before jumping in.