FX.co ★ EUR/USD

Hello! On the four-hour chart of the euro/dollar currency pair, the bulls have achieved a new milestone by breaking through and updating the previous pair high at 1.1735, with the quotes reaching up to 1.1770 at the moment. However, I believe that the bulls' goal is to reach the round level of 1.1880 at least, and that's where we expect the pair to head soon. Moreover, it is not crucial whether the pair will reach that level from its current position or after a corrective decline to the breached high of 1.1735, as the pair is currently significantly overbought, indicated by the stochastic oscillator. The key point is that we anticipate further development of the upward trend on the H4 chart, which has been observed since March 13 and is essentially transitioning into a long-term trend since the pair has been rising for over a month. It is worth noting that the EUR/USD quotes remain in the area of active buying, staying above all technical indicators on the four-hour chart, indicating that the pair's upward movement remains a priority.