EUR/USD, Technical Analysis – H4
The sharp escalation of hostilities in Iran and the Strait of Hormuz has bolstered the US dollar against the euro.
The sharp escalation of hostilities in Iran and the Strait of Hormuz has bolstered the US dollar against the euro. Euro bulls have lost the key sloping support, a development that frequently triggers accelerated selling pressure. As a result, a new wave of declines is expected from the 1.1400–1.1410 area, targeting 1.1340 and 1.1300.
Key Levels:
□ 1.1400–1.1410 (immediate resistance / current zone)
□ 1.1340 (first support)
□ 1.1300 (next major target)
Primary Scenario:
Decline from the 1.1400–1.1410 zone towards 1.1340 and 1.1300.
Alternative Scenario:
Consolidation below the 1.1400–1.1420 zone as part of forming a broader descending structure.
Analyst Commentary:
The market remains highly sensitive to geopolitical developments; however, the current technical picture appears largely one-sided.
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.