EUR/USD Technical Analysis (4H Timeframe)
Current Price: 1.17786
Resistance Level: 1.18090
Trendline: Clear bullish trendline supporting the uptrend
Market Structure Overview
- EUR/USD is respecting a long-term bullish trendline, confirming higher lows.
- Price recently tested the key resistance at 1.18090 but failed to break convincingly.
- Currently, price is consolidating just below resistance with the trendline indicating continued bullish momentum. Bullish Outlook
- The trendline suggests buyers remain in control.
- As long as price stays above the trendline, dips are likely to be bought.
- A breakout above 1.18090 with confirmation would signal bullish continuation toward:
1.18550
1.18800 Bearish Caution - Repeated rejection from 1.18090 without a breakout could trigger short-term pullbacks.
- Breakdown below the trendline would weaken bullish structure and expose:
1.17200 support
1.16500 deeper support zone
Trade Signals
Buy Signal - Buy on bullish breakout above 1.18090
Confirmation: Strong bullish candle close above resistance
Targets: - First TP: 1.18550
- Second TP: 1.18800
Stop Loss: Below 1.17800 Sell Signal - Sell only if price shows clear rejection at 1.18090 and breaks below the bullish trendline
Targets: - First TP: 1.17200
- Second TP: 1.16500
Stop Loss: Above 1.18200
Key Considerations
• Trendline is acting as dynamic support; respect it until broken. - Watch for high-impact news (especially USD-sensitive events).
- Patience is key for confirmation at resistance.
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