FX.co ★ EUR/USD

Hello traders, in my brief forecast for today regarding the trading instrument EURUSD, I expect further growth of the currency pair towards the next resistance level. The majority of indicators on the hourly timeframe point to an increase in the currency pair towards the next resistance level. The overall trend on the 1-hour chart remains bullish. On the 1-hour chart, we can see the currency pair near the price level of resistance at 1.20028. Today, I expect a breakout of this resistance level at 1.20028 and further growth of the currency pair towards the next resistance level at 1.20790. If the EURUSD pair manages to break above this resistance level at 1.20790 and hold above it, I will expect further growth of the currency pair towards the next resistance level. However, if the EURUSD pair fails to break above the resistance level at 1.20790 and hold above it, I will expect a pullback of the currency pair towards the support level at 1.19334.