🔍 Technical Analysis – EUR/USD (4H)
🧠 Pattern Identified: Head & Shoulders
This is a classic reversal pattern, often indicating that the prevailing uptrend is weakening and a potential bearish move may follow.
Left Shoulder: Formed around April 17–18.
Head: Sharp push up and reversal around April 22.
Right Shoulder: Forming now, showing a lower high compared to the head.
Neckline: Currently being tested around the 1.1335–1.1340 zone.
🧭 Key Levels
Zone Level Significance
Resistance 1.1450 High before the drop (Head)
Neckline Support 1.1335 Crucial breakout level
Next Support 1.1260 March highs; potential bounce
Target (H&S projection) 1.1200 - 1.1220 If neckline breaks with volume
🧠 Pattern Identified: Head & Shoulders
This is a classic reversal pattern, often indicating that the prevailing uptrend is weakening and a potential bearish move may follow.
Left Shoulder: Formed around April 17–18.
Head: Sharp push up and reversal around April 22.
Right Shoulder: Forming now, showing a lower high compared to the head.
Neckline: Currently being tested around the 1.1335–1.1340 zone.
🧭 Key Levels
Zone Level Significance
Resistance 1.1450 High before the drop (Head)
Neckline Support 1.1335 Crucial breakout level
Next Support 1.1260 March highs; potential bounce
Target (H&S projection) 1.1200 - 1.1220 If neckline breaks with volume
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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.
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.