EUR/USD, Technical Analysis – H4
The pair has confirmed an upward reversal, with bulls eyeing the next resistance zone at 1.1500–1.1510.
The pair has confirmed an upward reversal, with bulls eyeing the next resistance zone at 1.1500–1.1510. However, the local supply area around 1.1420 is likely to act as a temporary barrier, potentially capping the advance and triggering pullbacks toward 1.1380.
Key Levels:
□ 1.1380 (support)
□ 1.1420 (resistance)
□ 1.1500–1.1510 (target)
Primary Scenario:
Consolidation within the 1.1380–1.1420 range in preparation for a move toward 1.1500.
Alternative Scenario:
Breakout above 1.1420 with a bullish impulse toward 1.1500–1.1510.
Analyst Commentary:
The optimal entry zone for long positions is around 1.1380. However, bulls risk missing the move if price clears 1.1420 decisively and accelerates higher.
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.