EUR/USD, Technical Analysis – H4
What we had anticipated for nearly a week has materialized: bears have broken through the sloping support near 1.1400.
What we had anticipated for nearly a week has materialized: bears have broken through the sloping support near 1.1400. The pair now faces a downside threat toward 1.1300. The only factor that may hinder this move — or, more precisely, delay it slightly — is the approaching weekend, which could trigger a local corrective bounce back to 1.1400.
Key Levels:
□ 1.1400 (broken sloping support / potential correction zone)
□ 1.1350 (intermediate support)
□ 1.1300 (next major downside target)
Primary Scenario:
A corrective retracement to 1.1400, followed by renewed selling pressure and continuation lower toward 1.1350 and ultimately 1.1300.
Alternative Scenario:
Direct acceleration lower, bypassing a meaningful correction, with immediate targets at 1.1350 and 1.1300.
Analyst Commentary:
The most attractive selling zone remains the 1.1400 area, offering an optimal risk-reward setup for renewed bearish positions.
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.