Hello traders. EUR/USD. Euro/Dollar ended the past week with a bearish candle, while a bearish pin bar formed on the chart, suggesting a likely continuation of the southward movement in the upcoming week. Smaller timeframes also point towards the south. On the hourly chart, indicators continue to signal further decline, with the pair closing the day with another sell signal. Therefore, on Monday, I will be looking to open new short positions with the next target at 1.1735-40 in the local perspective. However, it will be necessary to see how the market opens. On the 4-hour chart, indicators are still in the process of forming a sell signal, but the pair is already consolidating in the bearish zone of the Bollinger Bands channel. The channel has started to widen, indicating a possibility of the current impulse continuing at the beginning of the next week. But for now, I am not looking too far down, with the target being a test of the middle Bollinger Band on the daily timeframe, and then we will see.
