EURUSD 16 Aug 2023 on H4 timeframe. After this pair experienced bearish yesterday until it almost touched S2, now this pair is able to reverse the trend to bullish. Although still at 1.09064, but if you refer to the stochastic indicator which looks like there has been saturation due to oversold, the bullish trend will still continue. Therefore, go-long positions can be an option for traders if this pair is able to continue to rise towards S1. but if there are factors that might be able to affect the change in trend, then go-short could be an option. Keep an eye on market changes and movements and learn other indicators before making trading decisions.
