EUR/USD, Technical Analysis – H4
The upward technical correction has reached its optimal height.
The upward technical correction has reached its optimal height. The 1.1410–1.1420 zone contains the previously broken slanted support line, which now acts as resistance. In addition, a gap has formed below around 1.1380 and is likely to serve as a price magnet. Consequently, we expect the pair to reverse lower toward 1.1350 and 1.1300.
Key Levels:
□ 1.1410–1.1420 — Resistance (former slanted support)
□ 1.1380 — Gap / price magnet
□ 1.1350 — Primary target
□ 1.1300 — Extended target
Primary Scenario:
Decline toward 1.1390 and 1.1350.
Alternative Scenario:
Consolidation within the 1.1400–1.1420 zone.
Analyst Commentary:
High probability of a bearish resolution.
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.