EUR/USD, Technical Analysis – H1
The euro has not yet broken the downtrend against the dollar, but it has formed a significant potential reversal zone around 1.1450.
The euro has not yet broken the downtrend against the dollar, but it has formed a significant potential reversal zone around 1.1450. If the bulls manage to (1) defend the support at 1.1430 and (2) consolidate above 1.1480, the reversal will be technically confirmed. However, the market may take a more complex path and trigger the upside move via a short squeeze. Therefore, traders positioning for an upward reversal must exercise extreme caution.
Key Levels:
□ 1.1430 – immediate support
□ 1.1440 – lower edge of reversal zone
□ 1.1450 – key potential reversal level
□ 1.1480 – confirmation level for bullish reversal
Primary Scenario:
Bounce from the 1.1430–1.1440 zone and subsequent rise toward 1.1480.
Alternative Scenario:
Breakdown below 1.1430 and decline toward 1.1400.
Analyst Commentary:
Trading against the prevailing trend is one of the most thankless tasks in trading. At the same time, the ability to identify a potential reversal in a timely manner remains critically important.
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.