FX.co ★ EUR/USD

Hello traders! Analyzing the results of the past week for the EUR/USD currency pair, we can see that trading ended with a four-hour decline from the pair's peak of 1.1630. So far, the bears have been unable to break below the support at 1.1505, especially considering that the 4-hour Stochastic is attempting to reach the lower boundary of its working zone again. This may prevent the bears from breaking this level, although on the other hand, we can see a downside target at the support level of 1.1485, corresponding to the pair's minimum from March 23. Therefore, I expect that at least in the short term, the bears will reach that level on Monday, but after that, the pair will likely start rising again aiming for a new attempt to test the resistance at 1.1630.