FX.co ★ berta.hill | EUR/USD

EURUSD. Good afternoon. The Euro/Dollar continues its move to the north today, but the pair still has not managed to break yesterday’s high, while once again testing the old trend resistance, which it also failed to break. However, it is still a bit early to talk about a reversal at this moment, although I am considering such a scenario. On the hourly chart, the indicators have drawn a new buy signal today, but it has not been activated here, and the Bollinger channel has started to limit further movement to the north. At the same time, the lower-window indicators have drawn bearish divergences, hinting at a reversal. The picture is shaping up with the possibility of forming a double top with an approximate target of 1.1600-05. But first, I expect a decline to the activation point of this pattern, around 1.1670-75 in the short term, and then we’ll see. On the 4-hour chart, the indicators are also pointing north, but here too the lower-window indicators have already stopped supporting the development of bullish sentiment, and the lower-window indicators have started to hint at a reversal.