EUR/USD, Technical Analysis – H4
The euro weakened sharply against the US dollar after the Federal Reserve decided to keep interest rates unchanged (despite widespread expectations that this outcome was already priced in).
The euro weakened sharply against the US dollar after the Federal Reserve decided to keep interest rates unchanged (despite widespread expectations that this outcome was already priced in). The decline was halted at the strong psychological support level of 1.1500. Although no significant buy signals have formed at this level, a corrective rebound toward 1.1600 remains possible. However, taking long positions here carries notable risk.
Key Levels:
□ 1.1500 (strong psychological support)
□ 1.1600 (near-term resistance / correction target)
Primary Scenario:
Technical rebound toward 1.1600 followed by a renewed downward reversal.
Alternative Scenario:
Consolidation above the 1.1500 support, which could indicate a potential threat of further euro weakness.
Analyst Commentary:
The overall technical structure has firmly adopted a bearish character. Consequently, intraday short signals carry higher weight than local long setups.
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.