Hey Traders,
This EUR/USD H4 chart suggests a bullish scenario, with price action breaking key levels and retesting them for continuation. Here's the technical analysis:
### Observations:
1. Trend Analysis:
- The price has broken above the descending trendline, signaling a shift from a bearish to a bullish bias.
- The breakout has been followed by a successful retest within the green zone, confirming it as a support level.
2. Key Levels:
- Support: The green zone around 1.0480-1.0500 has acted as a strong support after the breakout.
- Resistance: The chart highlights a target near the 0.5 Fibonacci level at 1.0694.
3. Retest Zone:
- The blue highlighted area indicates a retest of the broken trendline and horizontal support. This confluence area strengthens the bullish case.
4. Fibonacci Levels:
- The 0.236 Fibonacci level (~1.0424) was successfully held, suggesting that the retracement is over and the upward momentum may resume.
5. Potential Movement**:
- The price is expected to continue its bullish movement, as indicated by the blue arrows, with a primary target around 1.0694.
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### My Thoughts:
This chart looks bullish, with a strong base formed around 1.0480-1.0500. Watching for further confirmation through price action, such as higher highs and higher lows, would be wise. However, a break below the retest area could invalidate this setup and shift the bias.
This EUR/USD H4 chart suggests a bullish scenario, with price action breaking key levels and retesting them for continuation. Here's the technical analysis:
### Observations:
1. Trend Analysis:
- The price has broken above the descending trendline, signaling a shift from a bearish to a bullish bias.
- The breakout has been followed by a successful retest within the green zone, confirming it as a support level.
2. Key Levels:
- Support: The green zone around 1.0480-1.0500 has acted as a strong support after the breakout.
- Resistance: The chart highlights a target near the 0.5 Fibonacci level at 1.0694.
3. Retest Zone:
- The blue highlighted area indicates a retest of the broken trendline and horizontal support. This confluence area strengthens the bullish case.
4. Fibonacci Levels:
- The 0.236 Fibonacci level (~1.0424) was successfully held, suggesting that the retracement is over and the upward momentum may resume.
5. Potential Movement**:
- The price is expected to continue its bullish movement, as indicated by the blue arrows, with a primary target around 1.0694.
---
### My Thoughts:
This chart looks bullish, with a strong base formed around 1.0480-1.0500. Watching for further confirmation through price action, such as higher highs and higher lows, would be wise. However, a break below the retest area could invalidate this setup and shift the bias.
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Haftungsausschluss
Die Informationen und Veröffentlichungen sind nicht als Finanz-, Anlage-, Handels- oder andere Arten von Ratschlägen oder Empfehlungen gedacht, die von TradingView bereitgestellt oder gebilligt werden, und stellen diese nicht dar. Lesen Sie mehr in den Nutzungsbedingungen.