Euro / U.S. DollarShort
EUR/USD Eyes Support Levels One More Push Before Falling Under 1
On the 4H timeframe, EUR/USD continues its downward trend, forming consistent lower highs and lower lows, signaling strong bearish momentum. The recent bounce around 1.0399 indicates a potential short-term retracement. The overall structure remains bearish unless key resistance levels near 1.0530 and 1.0570 are broken.
Indicators like RSI are hovering near the oversold zone, suggesting a possible relief rally. The MACD histogram is showing signs of diminishing bearish momentum, supporting a temporary retracement. If the price fails to break resistance, it could resume its downtrend targeting key support zones around 1.0300 and 1.0200.
A bounce toward resistance is possible, but sellers remain in control unless key levels are breached. Watch for confirmations near 1.0530.
Indicators like RSI are hovering near the oversold zone, suggesting a possible relief rally. The MACD histogram is showing signs of diminishing bearish momentum, supporting a temporary retracement. If the price fails to break resistance, it could resume its downtrend targeting key support zones around 1.0300 and 1.0200.
A bounce toward resistance is possible, but sellers remain in control unless key levels are breached. Watch for confirmations near 1.0530.
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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.