EUR/USD, Technical Analysis – H
The pair is currently testing the medium-term downtrend line, which is likely to trigger a downward reversal.
The pair is currently testing the medium-term downtrend line, which is likely to trigger a downward reversal. Local buying interest may emerge near the sloping support zone of 1.1400–1.1410. A similar pattern appeared earlier on the chart, reinforcing the view that bears maintain strategic control. At the same time, we do not expect an immediate breakdown of the triangle — sufficient room remains for range-bound trading in the near term.
Key Levels:
□ 1.1400–1.1410 (key support)
□ 1.1450 (near-term resistance)
Primary Scenario:
Decline toward the 1.1400–1.1410 zone, followed by a corrective rebound to 1.1450.
Alternative Scenario:
Breakdown below 1.1400.
Analyst Commentary:
The formation exhibits classic “bear flag” characteristics. Consequently, further downside targets for next week are located at 1.1200 and 1.1100.
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.