FX.co ★ EUR/USD

Hello traders. EUR/USD. Euro/Dollar continued its southern movement yesterday, reaching the lower boundary of the trend channel. There was even an attempt to break below, but it was unsuccessful so far. However, it's not like the bulls are currently thriving, so I still lean towards considering the possibility of breaking out of the trend channel to the south. On the hourly chart, indicators continue to point south, but the pair has now approached a test of the middle Bollinger Band from below. Depending on a breakout or a bounce, it will show the further sentiment for the nearest perspective. I am more inclined towards a scenario with a bounce and a decline, but in any case, I will wait for the test results. In case of a favorable outcome for the bears, there will be an opportunity to open short positions with an approximate target of 1.1480-85 in the short term. On the four-hour chart, indicators have formed a clear sell signal, but it has not been activated yet. The Bollinger Band channel here hints at a sideways movement within its bands, and the pair is bouncing off the lower band, so there is a possibility of a move up to the upper band. Therefore, I am currently observing here, letting the technical analysis guide the way.