FX.co ★ Technical analysis of EUR/USD

EUR/USD:

The chart shows the movement of EUR/USD on the 4-hour (H4) chart.

Looking at the picture inside the yellow square, it is clear that #EUR/USD quotes are rising, but on the way there is a strong resistance level, at 1.007 (marked in red).

Two scenarios may occur in the market. The first one is a correction towards 0.9795, while the second one is the breakdown of the key resistance level and growth towards 1.023.

Volatility may surge near the resistance level.

Good luck!