FX.co ★ berta.hill | EUR/USD

Hello traders, The currency pair EUR/USD continues to move within an upward bullish channel. Moving averages indicate a short-term upward trend for the pair. Prices have broken through the area between the signal lines upwards, signaling buying pressure on the euro and the potential continuation of the currency pair's quotes from current levels. As part of the forecast, we can expect an attempt to develop an upward movement in quotes and test the resistance level located near the 1.1765 area on the EUR/USD pair. Subsequently, a price pullback downwards and the beginning of a bearish impulse on the EUR/USD pair may occur, with a potential target for such a movement being below the 1.1575 level. The scenario of the currency pair EUR/USD falling tomorrow will be invalidated by a strong price increase and a breakthrough of the 1.1885 level. This would indicate a breakthrough of the resistance area and the continuation of the upward price movement towards the 1.2165 level. To expect confirmation of a decline in the EUR/USD pair, we should look for a breakthrough of the support area at the 1.1685 level, indicating a breakthrough of the lower boundary of the bullish channel. EUR/USD suggests an attempt to develop a bullish correction in the currency quotes with a test of the resistance level near the 1.1765 level. From there, we can expect a pullback in the EUR/USD pair's quotes and an attempt to continue the decline in the asset's value in the market to the 1.1575 mark. The scenario of the EUR/USD pair falling will be invalidated by a strong increase in quotes and a breakthrough of the 1.1885 level, indicating a breakthrough of the resistance zone and the continuation of the currency pair's rise towards the 1.2165 mark.