FX.co ★ EUR/USD

Hello traders! Analyzing the four-hour movement of the EUR/USD currency pair quotes, we can see that since the last days of March, the trend has been exclusively bullish. During this time, the euro quotes have risen from the level of 1.1445 to the level of 1.1800, surpassing more than five and a half figures to the upside. I believe that the bulls are not intending to stop at this point. This is indicated by the practical absence of resistance from the bears. However, we also notice that the "Zigzag" indicator on the chart already marks the end of another phase of the four-hour uptrend, while the Stochastic is in the overbought area and the advisor installed on the chart has completely switched to the bearish side. Nevertheless, we see that the bulls are preparing to break above the key level of 1.1800, and I think the next target for growth is the resistance at 1.1820. I assume that even if there is a short-term correction to the downside, it will be halted around the middle of the 17th figure, without reaching the area of the previous level at 1.1735, with a resumption of the upward movement from there.