EUR/USD, Technical Analysis – H4
The pair is consolidating below the previously broken sloping support — a normal price behaviour before an impulsive move develops.
The pair is consolidating below the previously broken sloping support — a normal price behaviour before an impulsive move develops. With the asset also trading below the key level of 1.1380, buyer weakness is evident and the path of least resistance points toward a decline to 1.1300.
Key Levels:
□ 1.1380
□ 1.1300
Primary Scenario
Initiation of a decline toward 1.1350, 1.1320 and 1.1300.
Alternative Scenario
Continued sideways trading within the 1.1360–1.1390 range.
Analyst Commentary
Intraday upward moves can be used to add to short 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.