FX.co ★ EUR/USD

EURUSD. Good afternoon. Yesterday the Euro/Dollar still failed to develop a bearish mood; on the back of fundamentals, the bulls pushed the pair quite actively in their direction. At the moment, technically everything points to further upward movement, but there are also hints of a decline. On the hourly chart, the indicators still support further movement to the north, but here the Bollinger channel has already shifted, hinting at the end of the upward impulse and the start of a local correction aiming to test its middle line from above, around 1.1420–25 in the short term. Moreover, there are “debts” there due to the close above the outer Bollinger band, so intraday we will most likely see a continuation of the decline. On the 4-hour chart, the indicators have also drawn a new buy signal, but it has not been activated here. At the same time, the Bollinger channel is still expanding, which indicates a likely continuation of the upward impulse in the medium term. For now I’m watching for a local decline, and then we’ll see.