FX.co ★ berta.hill | EUR/USD

Hello traders, in my brief forecast for Monday regarding the trading instrument EURUSD, I expect further decline of the currency pair towards the next resistance level. Most indicators on the hourly timeframe point to a decrease in the currency pair towards the next resistance level. The overall trend on the 1-hour chart remains bearish. On the 1-hour chart, we can see the currency pair near the resistance level of 1.17107. On Monday, I expect a breakout of this resistance level at 1.17107 and a consolidation below it, then I will anticipate further decline of the currency pair towards the next resistance level at 1.16934. If the EURUSD pair manages to break this resistance level at 1.16934 and consolidate below it, then I will expect further decline towards the next resistance level. However, if the EURUSD pair fails to break the resistance level at 1.16934 and consolidate below it, then I will expect a pullback of the currency pair towards the support level at 1.17362.