EUR/USD Technical Analysis – H1

Bulls continue to demonstrate resilience, sustaining a prolonged upward trend that has already completed a nine-wave growth structure. Under these conditions, an update of the local high in the 1.1570–1.1580 zone appears highly probable. However, the market remains vulnerable to a wave of profit-taking, which could trigger a corrective pullback toward the 1.1500–1.1510 area.

Key Levels:

□ Resistance 1.1570–1.1580

□ Resistance 1.1600

□ Support 1.1500–1.1510

Primary Scenario:

Advance into the 1.1570–1.1580 zone, followed by a sharp reversal lower.

Alternative Scenario:

Breakout toward 1.1600.

Analyst Commentary:

Attempting to technically catch a trend reversal to the downside is not recommended. That said, such a reversal remains quite probable.