FX.co ★ EUR/USD

EUR/USD Hello traders! The analysis of the daily chart of the euro/dollar currency pair indicates a clear long-term upward movement vector. Currently, the EUR/USD pair is undergoing a correction, which is particularly noticeable on lower timeframes, but within the daily chart, the quotes have only slightly decreased below the upper boundary of the rising daily TMA indicator. Therefore, the pair has sufficient upward potential to continue the ascending trend without risking a trend reversal to the downside, potentially declining to the support at 1.1530, even considering that the stochastic indicator is already near the lower boundary of its range, hinting at a new upward reversal. Moreover, a decline towards the middle of the 1.14 level could be considered, which roughly corresponds to the hypothetical lower boundary of the ascending daily channel. Hence, there is no threat to the daily upward trend, and in the mentioned area, I expect the "Zigzag" indicator to signal the end of the decline with a target for further growth towards the 1.20 level.