FX.co ★ EUR/USD

Hello traders, I have been analyzing the EUR/USD pair all week. The price entered a pullback phase after dropping below the 1.1520 support level on the daily timeframe. An upward correction has formed, and the price has risen to the key 61.8% Fibonacci retracement level. I decided to focus on the latest downward wave to assess the most local correction that can be seen on the chart. Let's see if the pair can return to a downtrend. It has already retraced from the key resistance, indicating a bearish bias. If the EUR/USD manages to break above the resistance, then we should expect further growth and determine where the price might stop. Overall, I anticipate a decline, so my forecast leans towards a downward movement.