FX.co ★ berta.hill | EUR/USD

Hello traders. EUR/USD. Yesterday, the Euro/Dollar pair continued its movement to the north quite well, but towards the end of the day, the bears finally woke up and began to take the initiative into their own hands. Today, the bears have confirmed this initiative by dragging the pair even lower. As a result, on the hourly chart, indicators are still in the process of forming a sell signal, but the pair has entered the bearish zone of the Bollinger Band channel. The channel has started to expand, indicating a likelihood of the current downward impulse continuing, with the next target at 1.1510-15 in the short term, most likely after a small correction. On the 4-hour chart, indicators continue to point north, but the pair is now approaching a test of the upper Bollinger Band, where a breakout or rebound will more accurately show the further direction. The channel itself, through its restructuring, hints at movement within its bands, as the pair bounced off the upper band, so I expect a decline towards the lower band, around 1.1430-40.