FX.co ★ EUR/USD

Hello traders. EUR/USD. Today, the Euro/Dollar pair made a decent attempt to develop a bearish sentiment, but it is still unclear whether the bears will be able to maintain the initiative. However, on the hourly chart, indicators are in the process of forming a sell signal, and the pair attempted to enter the bearish zone of the Bollinger Band channel. So far, unsuccessfully, as it is returning to the bullish zone again, which is what I am currently observing. However, I am considering a scenario with a decline in the local perspective, with an approximate target of 1.1770, where a support zone is also located. On the 4-hour chart, indicators are still pointing north, but the buy signal has not been activated yet. The pair tested the middle Bollinger Band from above and seems to be starting to push back. However, there is still no confirmation of the rebound, and the channel itself does not confirm significant movements here. Therefore, in the local perspective, I am looking at movement within its range. The pair bounced off the upper band, so I am expecting a decline to the lower band, where it will show whether the bears can show initiative and break through the support zone.