EUR/USD, Technical Analysis – H4
Bulls have formed a very strong buy signal for the euro in the demand zone of 1.1690–1.1600.
Bulls have formed a very strong buy signal for the euro in the demand zone of 1.1690–1.1600. After a retest of this area, an impulsive rally toward 1.1670 is expected.
Key Levels:
□ 1.1690–1.1600 — key demand/support zone
□ 1.1670 — primary upside target
Primary Scenario:
Pullback into the 1.1690–1.1600 demand zone followed by a rise toward 1.1670.
Alternative Scenario:
Direct growth toward 1.1670 from current levels.
Analyst Commentary:
There is a high probability of this pattern playing out. However, as this is a 4-hour timeframe, more localized swings and restructuring should be taken into account in trading calculations.
Nikolai Krishtopov is a Market Analyst at Investizo with more than 15 years of experience in the financial markets industry and over a decade of trading experience. His areas of focus include forex and crypto markets, technical analysis, intraday trading and market behaviour.