In the 4-hour timeframe, EUR/USD continues to trade within a well-defined descending channel, confirming ongoing bearish momentum following the rejection from the major supply zone around 1.1800–1.1830. Price recently interacted with a short-term demand zone highlighted in yellow near 1.1600–1.1620, which provided a temporary pause in the downtrend but failed to generate meaningful bullish follow-through.
The rejection from this area reinforces the dominance of sellers as the pair remains below both the mid-range structure and the upper boundary of the channel. As long as price remains confined within this bearish channel, continuation to the downside remains the more probable scenario, with the next structural liquidity level positioned near 1.1520–1.1540. A sustained break above the channel’s upper boundary would be required to shift momentum and allow buyers to target higher corrective levels.
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