FX.co ★ EUR/USD

Hello traders. EUR/USD. Today, the Euro/Dollar pair has made a decent move to the south, but at the moment, the technical analysis is starting to suggest a possibility of a small local uptrend. On the hourly chart, indicators still support further decline, but one of the lagging indicators has stopped maintaining a bearish sentiment, and the Bollinger Band has hinted at the end of the downward impulse and the beginning of a local correction with the target of testing its lower middle around 1.1560-70 in the short term. On the 4-hour chart, indicators are still pointing north, and the pair has approached a test of the upper Bollinger Band. Depending on a breakout or a rebound, it will show the further sentiment for the nearest perspective. Overall, at the moment, I am leaning more towards a scenario with a rebound and growth, but in any case, I will wait for the test results.