FX.co ★ berta.hill | EUR/USD

EURUSD. Good afternoon. Euro/Dollar continued its march north today, although I expected the bears to be more active and seize the initiative. But now the bears are trying to join the fight, so I'm watching to see if they can do anything. Technically, on the hourly chart the indicators remain in favor of further northward movement, and the pair is currently heading to test the middle Bollinger band from above, where, depending on a breakout or a rejection, it will show the near-term bias. For now I lean toward a breakout and decline, with an approximate short-term target of 1.1600-10, but in any case I'll wait for the result of the test. And one of the lower indicators confirms this development, shifting into the lower zone. On the 4-hour chart the indicators also remain in favor of further northward movement, but here the pair is likewise approaching a test of the middle Bollinger band from above. And the bearish pin bar is precisely hinting at the breakout-and-decline scenario.