FX.co ★ EUR/USD

Hello traders! The quotes of the currency pair Euro/US Dollar finished last week's trading session during a bearish correction, touching but not yet testing the strong support at 1.1760, where I expected the correction to end with a subsequent return to growth. I believe this will eventually happen, with a possible slight dip below as bears are actively targeting the 55-period moving average and the lower Bollinger Bands boundary, which are important levels for a bearish test. As shown on the chart, I anticipate a short-term price decrease within the completion of the bearish correction, followed by a resumption of the EUR/USD uptrend aiming to surpass the current pair's high at 1.1805, breaking above the upper Bollinger Bands boundary and attempting to move towards the middle of the 18th figure.