FX.co ★ EUR/USD

Hello traders. EUR/USD. Good day. Euro/Dollar continues to attempt a northward reversal today. The local decline has not yet led to a reversal, so sales remain questionable. On the hourly chart, indicators have shown a new intraday buying signal, with the pair again breaking out of the upward trend channel, if it is still valid. However, the Bollinger Band here has started to sharply narrow, limiting further movement to the north. Additionally, one of the underlying indicators does not support a bullish sentiment. Therefore, in the short term, there is a possibility of further decline, with an approximate target of 1.1600-1.1610. On the 4-hour chart, indicators still favor further upward movement, but the underlying indicators do not support a bullish sentiment here either, and the Bollinger Band continues to suggest a potential local correction aiming to test its upper middle band, which roughly coincides with the aforementioned zone.