On the 4H timeframe, EURUSD is currently trading at 1.12450, sitting just below a key resistance level at 1.1250. This level is notable as it aligns with the 38.2% Fibonacci retracement of a recent bullish wave and has historically rejected price advances, reinforcing a bearish tone after multiple tests. A breakout above 1.1250 could ignite further upside momentum, potentially driving the pair toward 1.1389, a target derived from recent trade setups. However, if the price fails to breach this resistance, a pullback toward the support zone at 1.1150, where buyers have previously stepped in, becomes likely.
Technical indicators will be key to decoding the pair’s next move. Watch the 50-period and 200-period moving averages on the 4H chart: if the price holds above these levels, it signals bullish strength, but a drop below could flip the trend bearish. The Relative Strength Index (RSI) is another tool to monitor, overbought conditions near 1.1250 might hint at a reversal, while oversold readings near 1.1150 could suggest a bounce. Look out for RSI divergence too, as it often flags weakening momentum before a shift occurs. These tools together can help pinpoint entry and exit zones.
In summary, EURUSD is at a crossroads on the 4H chart, testing the 1.1250 resistance with 1.1150 as the next support below. A clean break above 1.1250 opens the door to higher targets like 1.1389, while a rejection could see sellers push toward 1.1150. Use moving averages and RSI to time your trades, and stay alert for news that could jolt the market. With the pair consolidating between these levels, patience will pay off, wait for confirmation before jumping in.
Technical indicators will be key to decoding the pair’s next move. Watch the 50-period and 200-period moving averages on the 4H chart: if the price holds above these levels, it signals bullish strength, but a drop below could flip the trend bearish. The Relative Strength Index (RSI) is another tool to monitor, overbought conditions near 1.1250 might hint at a reversal, while oversold readings near 1.1150 could suggest a bounce. Look out for RSI divergence too, as it often flags weakening momentum before a shift occurs. These tools together can help pinpoint entry and exit zones.
In summary, EURUSD is at a crossroads on the 4H chart, testing the 1.1250 resistance with 1.1150 as the next support below. A clean break above 1.1250 opens the door to higher targets like 1.1389, while a rejection could see sellers push toward 1.1150. Use moving averages and RSI to time your trades, and stay alert for news that could jolt the market. With the pair consolidating between these levels, patience will pay off, wait for confirmation before jumping in.
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