Multi-decade highs in crude oil inventories kept a lid on oil prices, as the commodity failed to recapture the previous day’s losses despite surging equity markets. Gold is holding up well on insatiable investor demand.

Bollinger Bands have long been one of the most popular technical indicators across financial markets, and many forex traders use them regularly in their day-to-day trading. The key question to ask of any forex analysis technique is nonetheless clear: how effective is the Bollinger Bands indicator as a forex strategy? This article will take a closer look at one key Bollinger Band trading strategy on several forex pairs and explores one way to improve its effectiveness.