FX.co ★ EUR/USD

Hello traders. EUR/USD. Euro/Dollar started this week with a small downward price gap, which has not been filled at the moment, but it seems that the bears are not willing to let it happen. However, I am currently observing. On the hourly chart, indicators are still pointing towards further decline, the pair has completed a local correction and is approaching the activation point for a sell signal within the day. So, in the short-term perspective, there is a possibility to drop to around 1.1740-50 today. On the 4-hour chart, indicators are in the process of forming a sell signal, but it is still too early to talk about it. At the same time, the pair has entered the bearish zone of the Bollinger Band channel, where it is trying to consolidate. If the bears succeed, we will see a downward movement in the medium term. This scenario is quite likely, especially considering the rejection from the trend resistance. Moreover, on the daily chart, the pair is increasingly consolidating in the bearish zone of the Bollinger Band channel, which also suggests a good potential for a southward movement.