FX.co ★ EUR/USD

As anticipated in previous posts, the bears in the EUR/USD pair have indeed decided to continue the correction that started even before the Christmas holidays. I will remind you that we expected a decrease in the EUR/USD to the support at 1.1760, and it can be noticed that the bears have almost reached this level, although they have now bounced back slightly higher and are trading the pair at a rate of 1.1772 US dollars for 1 euro. At the same time, the four-hour Stochastic has already turned upwards and is trying to rise, but I still believe that the touch of the target support at 1.1760 will occur before the pair turns upwards, aiming for a resumption of growth to reach and update the current high of the pair at the level of 1.1805, followed by a rise towards the middle of the 18th figure.