Hello traders! Happy Victory Day to everyone who holds this holiday dear! Summing up the past trading week, it is worth noting that the currency pair EUR/USD, during its growth, for the third time since May 1st, has reached a strong resistance level of 1.1790. This level has been marked three times by the ZigZag indicator as a local four-hour maximum, but at the same time, we can see that the stochastic has reached the upper boundary of its indicator. This means that on Monday we can expect a market reaction to the last wave of growth, with a pullback at least towards the support area of 1.1735. Furthermore, overall, we can see that the four-hour trend is gradually turning northward, so in the next attempt to rise, the resistance at 1.1790 may be broken and the pair may enter the 1.18 level, most likely consolidating near the level of 1.1810.
