Based on the shape and trend of the Bollinger bands, it is experiencing quite a bit of squeeze at the moment due in part to the awaiting of Fed Chair's Jerome Powell's testimony which will be out on Wednesday. The results from the Bollinger Bands are also substantiated by the ATR since it is also edging on the lower side.
Based on the RSI analysis, EURUSD is above the 70 marks which indicate that it is overbought. This, therefore, presents a selling opportunity in the future. The MACD indicators, however, highlight and corroborate a bullish trend. This could be due to the fact that investors are speculating and leveraging on any opportunity to take profit as they await for the Fed...
Long EURURSD after using Bollinger Bands and the Chaikin Money Flow. Both indicators seem to point to a possible short-term uptrend. Chaikin Money Flow was above zero which signals it is gaining traction and strength.
