FX.co ★ berta.hill | EUR/USD

Hello traders! The EURUSD currency pair continues to show a downward trend. The technical analysis indicates that on the four-hour timeframe, the price is trading below the Ichimoku cloud, below the Kijun Sen and Tenkan Sen signal lines, with the Chikou Span line below the price chart, and a dead cross is active. The Bollinger Bands are pointing downwards, supporting a southern direction, the Stochastic lines are turning towards the main trend, hinting at the end of a local pullback, and the trend oscillator filter is colored red, signaling a bearish market sentiment. Currently, selling is the priority. I consider the nearest potential target of the downward movement to be the support level at 1.1566. If the bears manage to break this level, we may likely descend to the level at 1.1505.