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FX.co ★ EURUSD H4 | Bullish Continuation Expected?

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Forex Analysis:::2023-11-03T03:37:35

EURUSD H4 | Bullish Continuation Expected?

EURUSD H4 | Bullish Continuation Expected?

The EUR/USD chart shows bullish momentum with a potential move towards the 1st resistance. The 1st support at 1.0526, coinciding with the 38.20% Fibonacci Retracement level, is a significant area for potential buyer support. The 2nd support at 1.0526 is a multi-swing low support, further reinforcing its importance. On the resistance side, the 1st resistance at 1.0676 and the 2nd resistance at 1.0734 are swing high resistances, likely causing selling pressure. In summary, a bullish bias is suggested for EUR/USD, given these support and resistance levels.

Analyst InstaForex
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