FX.co ★ EUR/USD

EUR/USD Good Wednesday! On the four-hour chart of the EUR/USD currency pair, we can see that yesterday the ZigZag indicator signaled the completion of the bearish correction. Thus, the next local low of the pair is located at 1.1535, which is higher than the previous value. At the moment, the price is at the intersection with the median line of the Bollinger Bands indicator, whose bands are pointing north. Consequently, from a technical point of view, a resumption of growth from the current levels is practically beyond doubt, also taking into account the fact that the H4 stochastic is essentially at the lower boundary of its working zone. However, it has not yet shown an upward reversal, so a slight move of EUR/USD lower is possible within the margin of error for the 4-hour chart, but later we will expect a resumption of growth towards the round level of 1.1600.