EUR/USD, Technical Analysis – H4
Bulls have been building momentum for a breakout toward the 1.1500–1.1510 zone for some time, with only one remaining obstacle.
Bulls have been building momentum for a breakout toward the 1.1500–1.1510 zone for some time, with only one remaining obstacle — resistance at 1.1430. Whether they possess sufficient strength to clear this level today remains to be seen. Nevertheless, the impending move is becoming increasingly evident.
Key Levels:
□ 1.1430 (key resistance)
□ 1.1500–1.1510 (target area)
Primary Scenario:
Breakout toward 1.1510.
Alternative Scenario:
Continued consolidation below 1.1430.
Analyst Commentary:
The pair may remain in an accumulation phase for a while longer, but this should only intensify the subsequent “spring” compression and the eventual impulsive move.
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.