FX.co ★ EUR/USD

Hello traders. Pair Euro-dollar. Looking at the H4 chart, we can clearly see a prevailing bearish pressure. There were attempts to resume growth, which did not yield the expected results. The pair continues its downward movement, currently trading around 1.1702. If the bears continue to exert pressure on the pair, I believe they will eventually break through. If we get confirmation, I think they could easily test 1.1681. This is where buyers might start to show up, possibly even from current levels, but the charts currently suggest otherwise. If the level holds, there could be a short-term move to the north towards 1.1748, from where selling opportunities may arise. When it comes to opening trades, it is necessary to wait for the pair to consolidate first. Now let's look at the indicators: the pair is trading below the Ichimoku Kinko Hyo cloud, and below the lower Bollinger Band line, with the Stochastic pointing downwards, so I consider selling to be the priority.

Wishing everyone profitable trades!