FX.co ★ berta.hill | EUR/USD

Let's consider the movement of the EURUSD pair quotes. At the moment, the bulls are pushing the pair upwards. To continue the bullish movement, buyers need to break the first resistance level. Currently, evaluating the situation on the 4-hour chart, it can be noted that the pair is in a bullish trend. The price is above the Ichimoku cloud, indicating an upward impulse. This means that entering a long position can be considered. The stochastic indicator is in the overbought zone. During today's trading session, buyers managed to consolidate above the reversal level, and currently, the pair is trading at 1.1763. The intraday reference point for growth is the classic Pivot reversal levels. I believe that further growth from current levels and a breakthrough above the first resistance level at 1.1808 will lead to a new wave of pair growth and continuation of the northward movement above the resistance around 1.1890. However, if bearish players return to the market, the support level at 1.1574 will become the reference point for the current chart section, and a consolidation below this support will change the current balance of power.