EURUSD on the 4H timeframe is currently consolidating within a Rectangle Pattern following a sharp downtrend. This structure highlights a period of market indecision where buyers and sellers are competing around key levels.
Support Level: Price is holding above the 1.1600 zone, which has been tested multiple times and is acting as a short-term demand area.
Resistance Area: On the upside, the 1.1750–1.1800 zone is the key barrier to watch, aligning with previous supply and a strong rejection zone.
Price Action: After the decline from the 1.1850 region, the market entered a sideways phase, showing repeated Change of Character (ChoCH) and Break of Structure (BOS) signals inside the rectangle. This indicates balanced pressure between bulls and bears.
Bullish Breakout: If buyers manage to push above 1.1750, we could see momentum targeting 1.1850 and potentially higher if the trend extends.
Bearish Rejection: Failure to break resistance may drive price back toward 1.1600, and a confirmed breakdown below this support could open the path toward the 1.1400 weak low zone.
At this stage, traders should be patient and wait for a confirmed breakout before taking directional trades. Consolidations often precede strong moves, making this area crucial for future EURUSD direction.
This analysis is for educational purposes only and does not constitute financial advice. Always manage risk properly and follow your own trading plan
Support Level: Price is holding above the 1.1600 zone, which has been tested multiple times and is acting as a short-term demand area.
Resistance Area: On the upside, the 1.1750–1.1800 zone is the key barrier to watch, aligning with previous supply and a strong rejection zone.
Price Action: After the decline from the 1.1850 region, the market entered a sideways phase, showing repeated Change of Character (ChoCH) and Break of Structure (BOS) signals inside the rectangle. This indicates balanced pressure between bulls and bears.
Bullish Breakout: If buyers manage to push above 1.1750, we could see momentum targeting 1.1850 and potentially higher if the trend extends.
Bearish Rejection: Failure to break resistance may drive price back toward 1.1600, and a confirmed breakdown below this support could open the path toward the 1.1400 weak low zone.
At this stage, traders should be patient and wait for a confirmed breakout before taking directional trades. Consolidations often precede strong moves, making this area crucial for future EURUSD direction.
This analysis is for educational purposes only and does not constitute financial advice. Always manage risk properly and follow your own trading plan
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.