FX.co ★ EUR/USD

EURUSD Trend Outlook: The present analysis of the EUR/USD currency pair's price behavior is subject to discussion. On the H-4 chart, euro-dollar buyers have more potential than the H1 time frame. Their next likely target could be the upper boundary of the first impulse zone at 1.16384, with a slight chance of a false breakout. The nearest significant support for EUR/USD lies along the lower edge of this first zone at 1.15506. If the single currency's price falls back below this level, either after reaching Friday's high or immediately from its current position, it may continue to decline toward the following support levels around the central corner of the ascending fan at 1.14596 and the last bullish start line at 1.14076, with potential new growth attempts from any of these points. A force central scenario for the U.S. dollar would involve an impulsive breakout and consolidation of EUR/USD quotes above 1.16384, likely leading to further growth toward the next impulse zone at 1.17796. The market's behavior last Friday was surprising, with an almost 100-point impulse move late in the trading day—something few expected. However, the market could reverse and retrace Friday's movement by Monday. This volatility is outside the average daily range, prompting traders to anticipate a reversal that has yet to materialize.

It's noteworthy that this channel can still be over the span of a month. When viewed alongside the monthly candle for August, which formed from the lower boundary of this channel, the primary channel shows much greater strength. The slope angle on the daily chart is notably shallow, making a bullish breakout against the prevailing logic difficult. Nonetheless, if the pair breaks through this central channel, it could reach the 20-figure mark. Yet, pushing to its upper limit after surpassing the 1.1279 maximum will be highly challenging.