FX.co ★ EUR/USD

EURUSD. Good afternoon. The Euro/Dollar tried to develop a bullish mood yesterday, but as a result the pair closed the day with a bearish candle. And today the bears are trying to keep the initiative in their hands. Technically, on the hourly chart the indicators still point to further movement to the south, but the intraday sell signal here has not been activated. At the same time, the pair is exactly at the activation point, so there is a chance to walk south towards roughly 1.1480-85 in the short term. The pair is now consolidating in the bearish zone of the Bollinger channel, so this scenario is quite likely, but in any case it’s worth waiting for this signal to be activated. On the 4-hour chart the indicators have also already drawn a full-fledged sell signal, but it is not activated there either. One of the lower-window indicators does not support the development of a bullish mood, but it doesn’t cancel it either. The Bollinger channel, however, shows a dual situation: it has started to expand, so there is a chance to see a downward impulse develop, but at the same time it is aligned horizontally, which hints at a range-trading scenario within its bands. So for now I’m just watching how the situation develops.