The highlighted purple circle is a strong area to look for buy setups as it is the intersection of:
1- Green Horizontal Support
2- Lower Red Trendline acting as an over-sold area
3- Lower Brown Trendline acting as non-horizontal support
What I call "Trio Retest"
As per my trading style:
As EURUSD approaches the purple circle zone, I will be looking for bullish reversal setups (like a double bottom pattern, trendline break , and so on...)
Always follow your trading plan regarding entry, risk management, and trade management.
All Strategies Are Good; If Managed Properly!