Stay 
Trading Conditions
Products
Tools
After the Bank of England kept its interest rates unchanged, investors finally realized that the situation in the market was changing somewhat. The number of votes in favor of lowering the key rate decreased, which means the British central bank put on pause further easing monetary policy. Not long before, the European Central Bank implemented a significant rate cut, indicating that any further reductions would occur in the more distant future. Meanwhile, the Federal Reserve is just starting its monetary policy easing journey. In other words, only the United States will be lowering interest rates in the near future, while in Europe, they will remain unchanged. This is precisely why the dollar is losing ground, and it seems this process will continue for several months.
The EUR/USD pair has almost fully recovered its value after the recent corrective cycle. Currently, the price is fluctuating around the local high of the upward trend.
In the four-hour chart, the RSI technical indicator is moving in the buyers' zone of 50/70, indicating a bullish sentiment.
Regarding the Alligator indicator in the same time frame, the moving average lines point upward, aligning with the price movement direction.
Expectations and Prospects
The price's stabilization above 1.1150 reflects a bullish sentiment among market participants. However, buyers still face resistance in the 1.1200/1.1280 area, which represents the peak of the medium-term trend. This area must be overcome to strengthen the current trend; otherwise, it could act as resistance.
The complex indicator analysis indicates an upward cycle in the short-term, intraday, and medium-term periods.
InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.
