Hey traders .Just wanted to drop my thoughts on this EURUSD H1 chart and how I’m personally reading the price action right now. This is not financial advice, just sharing my view like we normally do here on the forum.
So first of all, if you look at the overall structure, EURUSD has clearly lost bullish momentum. Earlier we had a nice push up, price expanded outside the upper Bollinger Band, but that move was short-lived. After that spike, sellers stepped in aggressively and price started making lower highs and lower lows. That tells me buyers are weak and the market is slowly shifting into a bearish-to-sideways phase. Right now, price is trading near the lower Bollinger Band, which usually signals pressure from sellers. However, it’s not a clean breakdown yet. We can see multiple candles respecting this support zone around 1.1700–1.1710. This area is acting like a temporary floor, and price keeps reacting from here. That’s why blindly selling at support is risky. The moving averages are also important here. Price is mostly staying below the fast MA, and every pullback toward it is getting sold. That’s classic bearish behavior. As long as candles keep closing below these averages, I’ll personally treat any upside move as a pullback, not a trend reversal. Now let’s talk RSI. RSI is sitting around the low 40s, which shows weak momentum but not oversold. This is actually interesting because it tells us sellers are in control, but there’s still room for another push down. If RSI breaks below 40 and price also breaks this support, then we might see a stronger bearish continuation. For my trading idea, I’m waiting. If price breaks and closes clearly below the support zone with good volume, I’d look for short entries on pullbacks. On the other hand, if price holds this support and RSI starts climbing back above 50, then we could see a short-term bounce or range play. Overall, the market is not clean right now. It’s slow, choppy, and full of fake moves, so patience is key. Best approach in my opinion is to wait for confirmation instead of forcing trades. Let the market show direction first, then we follow. Would love to hear how you guys are trading this pair. Are you bearish like me, or waiting for a bounce? Let’s discuss ????
