EUR/USD, Technical Analysis – H4

Bulls have formed a very strong buy signal for the euro in the demand zone of 1.1690–1.1600. After a retest of this area, an impulsive rally toward 1.1670 is expected.

Key Levels:

□ 1.1690–1.1600 — key demand/support zone

□ 1.1670 — primary upside target

Primary Scenario:

Pullback into the 1.1690–1.1600 demand zone followed by a rise toward 1.1670.

Alternative Scenario:

Direct growth toward 1.1670 from current levels.

Analyst Commentary:

There is a high probability of this pattern playing out. However, as this is a 4-hour timeframe, more localized swings and restructuring should be taken into account in trading calculations.