FX.co ★ EUR/USD

EUR/USD Have a good weekend! Assessing the positions of the EUR/USD currency pair by the end of last week’s trading on the four-hour chart with the support of the Murray indicator, I will first note that the week brought the bulls new gains in the uptrend. As we can see, during the acceleration they almost reached a test of the main Murray resistance in the current trading echelon at 8/8 (1.1475), which in general indicated targets for further development of the uptrend that started on June 24 from the extreme Murray level in the current trading echelon - 2/8 (1.1322). As of the weekend, the EUR/USD price is in a bearish correction and is trading at 1.1435, supported by a falling 4-hour stochastic, and I believe that on Monday the move south will continue, most likely towards the middle of the Murray regression channel at the 4/8 (1.1414) support. From there I expect a bounce upward, with EUR/USD rising with a new task for next week, aimed at pushing the euro price up to the penultimate Murray level to the north at +1/8 (1.1490).