FX.co ★ EUR/USD

EUR/USD Good day. A rather delicate situation is forming now on the four-hour chart of the EUR/USD currency pair. On the one hand, we see an attempt by the bears to expand the decline, which is generally driven by the medium-term downtrend. However, it is visible that, without reaching the current pair minimum at the level - 1.1360, the ZigZag indicator «ZigZag» on the four-hour chart has already signaled the end of the fall. Thus, at the moment, the new local minimum of the pair is located above the previous value, and this is not a good signal for the bears. But still, on the bulls' side, we have not yet seen resistance and a rebound from current positions, so a continuation of the decline is quite likely. Moreover, the bears continue to put pressure on the pair, and this is supported by the still-falling stochastic oscillator on the four-hour chart and by the currency relative strength indicator. Therefore I hope that the current minimum will be updated by at least a few pips, after which we will wait for a correction toward the round level - 1.1400. The situation may turn out differently if the pair starts to rise right now, but I will not prematurely alarm those present.