FX.co ★ berta.hill | EUR/USD

EUR/USD Have a good weekend! Continuing to evaluate the positions of the EUR/USD currency pair at the end of last trading week, now supported by the Murray indicator on the four-hour chart, I note that the medium-term downtrend continues to develop here. Moreover, one can already speak of a gradual transition to a long-term trend, especially after bears broke through the 1.1400 level, which I consider the lower boundary of the upper trading band overall. Accordingly, the pair is entering the lower trading band and its boundaries extend south to the 1.1000 level. That's where I believe the EUR/USD pair will aim in the long term. Right now we see that the price is at 1.1396 and, within the framework of using the Murray indicator, this is below the 2/8 reversal level (1.1414). Moreover, at times the EUR/USD price went significantly lower, barely missing the main Murray support in the current trading band - 1.1353, so I assume this objective has moved to next week and will be reached soon. Moreover, two consecutive bearish four-hour candles are already open on the chart, and the stochastic, having turned down from the overbought boundary, supports this move.