FX.co ★ EUR/USD

EUR/USD H4: A Potential Bounce From Key Support EUR/USD is showing an interesting recovery setup on the H4 chart after a period of consolidation and short-term selling pressure. The pair is currently trading around 1.1622, where price is testing an important area that could determine the next directional move. The overall structure still looks constructive because the 100-period moving average remains above the 200-period moving average. This alignment suggests that the broader H4 trend is still leaning bullish. More importantly, price has recently recovered from the 1.1580–1.1590 region and moved back toward the 1.1620 area, showing that buyers are still active after every meaningful dip. The immediate zone to watch is around 1.1600–1.1620. If this area continues to hold and EUR/USD forms a strong bullish H4 candle or a clear rejection wick, it could provide confirmation for another upward move. A sustained break above 1.1625 would strengthen the bullish scenario and could open the way toward 1.1647 first. Above that level, the next significant target could be around 1.1680–1.1690, where the pair previously faced strong selling pressure.

However, the setup needs confirmation rather than chasing the price at current levels. If the pair fails to hold 1.1595 and closes below that support, the expected bounce could weaken and sellers may attempt to push the market toward the 1.1565 area. For me, the key is simple: 1.1595–1.1600 is the important support zone, while 1.1625 is the first breakout level. Holding support and breaking resistance would improve the probability of a stronger recovery. Traders should wait for confirmation from H4 price action before entering, while keeping risk controlled around the invalidation level. Overall, EUR/USD remains interesting for a potential bullish bounce as long as the current support structure stays intact.