FX.co ★ EUR/USD

EUR/USD Good Saturday morning. Over the weekend, the Euro/US Dollar currency pair remains at the level of 1.1739 with an open four-hour bearish candle, but the Stochastic, on the contrary, is rising and supporting the bulls, which brings some uncertainty to the near-term price movement of this currency pair. Based on the fact that the price of EUR/USD primarily started to decline from the current local maximum of 1.1760, and it seems that the correction has not yet finished, I believe that on Monday the price will drop, at least to the round level of 1.1700, before starting a new upward wave. Alternatively, we can expect a bounce from the support at 1.1720, as this level is reinforced by both the upper boundary of the TMA indicator bands for the 4-hour chart and the 14-period moving average, making it a quite important support for growth. Overall, we anticipate further movement of the EUR/USD pair next week towards the 1.18 level.