FX.co ★ EUR/USD

Hello everyone and profitable trading! Yesterday, the EUR/USD pair made another unexpected move, as instead of calmly dropping to support at 1.1530 from 1.1605, the pair was pulled slightly to the north. We are currently trading at a price of 1.1620, which has disrupted the excellent southern technical picture. There is already a support level from the hourly timeframe at 1.1615, and since we are above it, this indicates a northward movement on the hourly chart. However, as long as the EUR/USD pair remains below the level of 1.1640, the four-hour and daily timeframes still show a bearish trend, prioritizing a decline towards 1.1530. Therefore, if the price of the EUR/USD pair drops again below 1.1615 today, the technical analysis will point to a continuation of the decline towards 1.1530. On the other hand, a breakout above the resistance at 1.1640 will cancel such a decline.