EUR/USD, Technical Analysis – H4
EUR/USD remains in a consolidation phase. Bulls possess a solid base for an upward impulse, but the market is not yet ready to activate this potential. Continued range trading is expected before a likely breakout higher.
Bulls already have a formed base for developing an upward impulse, but the current market phase does not yet allow this potential to be realized. The price is likely to continue intense consolidation within the 1.1380–1.1460 range for some time before we see a breakout toward 1.1500 and higher.
Key Levels:
□ Support: 1.1380
□ Resistance: 1.1460
□ Breakout Target: 1.1500
Primary Scenario:
Continuation of trading within the 1.1380–1.1460 range.
Alternative Scenario:
Breakout toward 1.1500.
Analyst Commentary:
Buying from the lower boundary of the 1.1380–1.1460 range may prove promising both for intraday trades and as a medium-term position.
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.