EUR/USD, Technical Analysis – H4
The pair is forming a steady upward reversal. The key resistance level is at 1.1420.
The pair is forming a steady upward reversal. The key resistance level is at 1.1420; a decisive breakout above it would likely trigger a swift recovery toward the pivot zone at 1.1500. However, this area is unlikely to be cleared without a corrective pullback.
Key Levels:
□ 1.1400–1.1420 (current consolidation range)
□ 1.1420 (key resistance)
□ 1.1500 (next major pivot target)
Primary Scenario:
Breakout toward 1.1500, followed by a downward pullback.
Alternative Scenario:
Continued consolidation within the 1.1400–1.1420 range.
Analyst Commentary:
The bulls’ positional advantage looks substantial.
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.