EUR/USD, Technical Analysis – H4
EUR/USD is trading within a well-defined 50-pip range as market participants avoid taking aggressive positions ahead of the weekend.
The pair continues to consolidate within a narrowing range between the local trendline at 1.1410 and the strong pivot level at 1.1460. The price is likely to remain within this corridor until the market close (barring any extraordinary developments in the Middle East), as participants prepare to exit for the weekend.
Key Levels:
□ 1.1410 — local trendline support
□ 1.1460 — strong pivot resistance
Primary Scenario:
Continuation of accumulation inside the 50-pip range of 1.1410–1.1460.
Alternative Scenario:
Breakout of the mentioned range in either direction on the back of hot news.
Analyst Commentary:
Friday is traditionally not the best day for active trading, yet the proposed corridor currently appears reliable and well-defined.
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.