Euro / U.S. DollarUpdated EURUSD H4 | FOREX BEE
EUR/USD H4 Chart Analysis
The H4 chart for EUR/USD shows a critical decision zone, with two possible outcomes based on price action:
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Bullish Scenario:
Breakout Above Resistance (1.04500 - 1.04600 zone): If price breaks and holds above the green resistance area, we can expect an upward move.
Target:The next major resistance is 1.06947 (Fibonacci 0.5 level).
Confluence: The ascending trendline (blue) suggests buyers are still in control unless broken.
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Bearish Scenario:
Break Below Trendline & Support (1.04242 - 1.04000): If price fails to break above resistance and drops below the trendline, we could see a reversal.
Target: A breakdown could lead price towards the 1.02500 demand zone (red).
Confluence: Trendline breakdown + retest would confirm further downside.
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Key Levels to Watch:
Resistance Zone: 1.04500 - 1.04600 (Breakout confirmation required for bullish continuation).
Support Zone:1.04242 - 1.04000 (Potential breakdown zone).
Major Downside Target:1.02500 (Demand zone from previous price action).
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Trading Strategy:
Bullish Entry: Wait for a break and retest above 1.04600 before entering long.
Bearish Entry: If price breaks below trendline and retests 1.04242, shorting towards 1.02500 is a possibility.
Conclusion:
- The trend is bullish as long as the price holds above the trendline and 1.04242 support.
- If price fails to break resistance, a reversal is likely.
- Watch for confirmations before entering trades.
The H4 chart for EUR/USD shows a critical decision zone, with two possible outcomes based on price action:
---
Bullish Scenario:
Breakout Above Resistance (1.04500 - 1.04600 zone): If price breaks and holds above the green resistance area, we can expect an upward move.
Target:The next major resistance is 1.06947 (Fibonacci 0.5 level).
Confluence: The ascending trendline (blue) suggests buyers are still in control unless broken.
---
Bearish Scenario:
Break Below Trendline & Support (1.04242 - 1.04000): If price fails to break above resistance and drops below the trendline, we could see a reversal.
Target: A breakdown could lead price towards the 1.02500 demand zone (red).
Confluence: Trendline breakdown + retest would confirm further downside.
---
Key Levels to Watch:
Resistance Zone: 1.04500 - 1.04600 (Breakout confirmation required for bullish continuation).
Support Zone:1.04242 - 1.04000 (Potential breakdown zone).
Major Downside Target:1.02500 (Demand zone from previous price action).
---
Trading Strategy:
Bullish Entry: Wait for a break and retest above 1.04600 before entering long.
Bearish Entry: If price breaks below trendline and retests 1.04242, shorting towards 1.02500 is a possibility.
Conclusion:
- The trend is bullish as long as the price holds above the trendline and 1.04242 support.
- If price fails to break resistance, a reversal is likely.
- Watch for confirmations before entering trades.
Trade closed: target reached
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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.
Premium signals t.me/forexbee_admin ✅
My Free Telegram Channel: t.me/forexbeeofficial
website: forexbeesignals.com
My Free Telegram Channel: t.me/forexbeeofficial
website: forexbeesignals.com
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.