EURUSD continues to extend its bearish momentum on the H4 timeframe, with price now around 1.1505 after a steady decline from the recent swing high around 1.1657–1.1668. The pair remains pressured below the Ichimoku cloud, and repeated rejections from the upper boundary signal a persistent downside bias. Sellers continue to dominate as each recovery attempt is capped by resistance and followed by renewed weakness.
The technical structure shows a well-defined descending trendline guiding price lower. Parabolic SAR dots remain positioned above the candles throughout most of the recent move, reinforcing the short-term bearish direction. Bulls Power stays negative, reflecting the absence of buyer strength, while Stochastic oscillates near the oversold area, suggesting the downtrend is strong but may be approaching a temporary exhaustion zone.
Despite the bearish environment, price is nearing a critical support cluster around 1.1490–1.1466, where previous reactions occurred. This zone may attempt to create a short-term bounce; however, unless EURUSD can reclaim the mid-cloud region and break above the descending trendline, the broader trend is still downward. Any rebound toward resistance should be viewed cautiously within the current bearish landscape.
Market Observation & Strategy Advice
1. Current Position: EURUSD just above a key support zone at 1.1490–1.1466, pressured by a persistent downtrend and bearish indicators.
2. Resistance Zone: Immediate resistance sits at 1.1535, with stronger resistance at 1.1580–1.1600, aligning with the descending trendline and Ichimoku cloud.
3. Support Zone: Key support is located at 1.1490, followed by 1.1466. A clean break below this zone could accelerate bearish continuation.
4. Indicators: Parabolic SAR signals ongoing bearish flow, Bulls Power remains negative, and Stochastic is near oversold—indicating strong selling pressure but potential for a short-term correction.
5. Trading Strategy Suggestions:
- Buy on Dips: Consider only if price forms bullish reversal signals around 1.1490–1.1466, as the trend remains bearish.
- Breakout Confirmation: A break above 1.1535 followed by sustained closes may trigger a corrective move toward 1.1580–1.1600.
- Bearish Opportunity: A breakdown below 1.1466 opens room for continued downside toward deeper support levels.
Market Performance:
Forex Last Price % Change
USD/JPY 156.77 +0.29%
GBP/USD 1.3087 −0.07%
Today’s Key Economic Calendar:
DE: Ifo Business Climate
US: Chicago Fed National Activity Index
EU: ECB President Lagarde Speech
US: Dallas Fed Manufacturing Index
Risk Disclaimer: This report is for informational purposes only and does not constitute financial advice. Investments involve risks, and past performance does not guarantee future results. Consult your financial advisor for personalized investment strategies.
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