FX.co ★ EUR/USD

EUR/USD Good afternoon! During active growth, the quotes of the EUR/USD currency pair on the four-hour chart have risen to date and are testing the resistance - 1.1265 for a breakout to the upside. This is the pair's high area from October 6, and a breakout above it with the opening of a new 4-hour candle will most likely lead to a final reversal of the current trend to the upside. But bears still have a chance to return to a decline, since the ascending channel has not yet fully formed. So far we have only a single high of the pair marked by the "ZigZag" indicator above previous values, so everything will depend on where the next wave of decline ends. But, given the current dynamics, it is assumed that the decline may be short, into the support area of 1.1240, with further advancement of the pair to the upside. Although this contradicts my fundamental beliefs, based on the idea that the US dollar should continue to receive support from expectations of monetary policy tightening and an interest rate hike at the upcoming meeting of the US Federal Reserve in December. But, unfortunately, the picture is currently developing according to a different scenario, and we must assess the current technical picture without unnecessary fantasies.