EUR/USD (1-Hour Chart) – Three Possible Scenarios
I'm here to illustrate three possible scenarios for the future EUR/USD movement on the 1-hour chart.
1. Bearish Continuation Below the Demand Zone (≈1.0460)
The price has formed a double bottom near 1.0460, indicating a strong demand level.
If the market breaks below this zone, it would suggest that sellers remain in control and the downtrend could continue.
2. Retracement From the Supply Zone (≈1.0630)
The supply zone around 1.0630 is acting as a strong resistance level.
If the price moves up into this zone and finds significant selling pressure, it may retrace lower.
Additionally, the RSI is showing overbought conditions, which supports the idea of a potential pullback from this area.
3. Bullish Breakout Above the Supply Zone (≈1.0630)
If the price breaks above the 1.0630 supply zone and shows a clear Change of Character (CHOCH), it could signal a new bullish trend.
This would imply that buyers have regained control, pushing the market toward higher levels.
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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.