EURUSD: Oversold Conditions and Potential Bullish Reversal

I anticipate an increase in the value of EURUSD. The price has reached a significant support level and shows signs of being oversold on the 4-hour chart.

Furthermore, there have been two bullish breakouts on this timeframe, including a breakout from a descending channel and a horizontal resistance level.

I expect the price to rise to approximately 1.0870.