The $EURUSD pair has moved both bullish and bearish since 2018 at an average of 200pips. The daily chart shows there has been rowdiness in the price movement. $EURUSD has been repeatedly oversold in May and August 2018. Price at several occasions touched the resistance level and reversed. The $EURUSD bears are more dominant since April 2018. Also, since the beginning of this year, the bears have been more dominant. Any attempt to begin a bullish trend, the bears take charge of the market.
Ichimoku’s future shows a downtrend, which is yet to give a reversal signal. In recent times, the price of $EURUSD has not shown an oversold position on the RSI. With price action, price is currently at 1.13746 after a bounce occurred. Now price is almost touching the Bollinger band’s middle line. If the candlestick crosses and closes above the middle line of the Bollinger band, then the uptrend might continue to reach 1.15068.