FX.co ★ EUR/USD

EUR/USD Hello traders! EUR/USD on the 4-hour (H4) chart. Currently, the market has formed a favorable situation for a price movement to the south from the key level of 1.172061. The nearest targets are 1) 1.166052, target 2) 1.164764. This level acts as the first significant support, where price consolidation is possible. The second set of targets are target 1) 1.156844, target 2) 1.155557. This level represents a deeper support level where the price may head in case of a strong impulse development. The scenario suggests a high probability of a southward movement, especially if EUR/USD manages to establish itself below the level of 1.172061. If the scenario unfolds, the price may reach the nearest targets, 1.166052, 1.164764 within a few days. I recommend keeping an eye on additional analysis and taking into account the release of important economic news that may impact price movement. Wishing everyone successful trading!