Technical analysis of EUR/USD (H1): Bearish roller coaster and the fiasco of bullish hopes. Hello traders! Do you remember our recent optimism about EUR/USD? Once again, the market has taught us a lesson in humility. That "Phoenix" we talked about earlier not only failed to soar — it crashed down like a stone, confirming the old truth: never argue with the primary trend. Technical picture and Price Action: The algorithm has switched to a clear Major Trend: Down status (highlighted in red). The entire morning rise was completely engulfed by a powerful bearish impulse. Breakout after breakout: The price passed through the central Pivot level 1.15874 and Support 1 at 1.15573 like a knife through butter. Current disposition: The quote at the moment is 1.15259. We are approaching Support 3 at 1.1508 closely. The price is literally "lying" on the lower boundary of the TMA channel, signaling high volatility in the drop. If the bears do not encounter fierce resistance here, the next stop is 1.14087. Readings of basement indicators (State of "Scorched Earth"): In the basement of the chart, a real apocalypse is unfolding for buyers: The value is 0.00: Both the SuperTrend histogram and the Laguerre linear oscillator have dropped to absolute zero. When indicators "stick" to the floor, it indicates enormous selling pressure. Yes, we are in the zone of extreme oversold conditions, but with such momentum, this is not a signal to buy, but a sign that buyers simply do not exist in the market — they have been wiped out. The spring is compressed downwards to the limit, but there are no signs of a reversal (line bending upwards) yet. Trading plan and recommendations: Entering a long position now is like trying to stop a train with bare hands. Scenario for a decline (Short): Priority. However, selling "at the bottom" with the oscillator at zero is bad practice. The ideal scenario for further selling is a technical pullback to the broken Support 1 level at 1.15573. If the price tests it from below upwards and shows a pink rejection arrow, this will confirm the move towards 1.1508. Rebound scenario (Long): Only for the bold. We are waiting for the appearance of a green support marker around Support 3 at 1.15086 and the oscillator's mandatory exit from the zero zone (at least above 0.15). As long as the line is on the floor, there are no buys. Summary: EUR/USD has returned to free fall mode. The global bearish trend has put everything in its place. I recommend waiting for consolidation at the current lows and not rushing with buybacks until the "basement" shows the first sign of life. Protect your deposits and remember: the trend is your only true friend!
