EURUSD Bullish Breakdown
This chart displays the 4-hour timeframe for the EUR/USD currency pair. The analysis focuses on potential bullish momentum and key zones to watch. Key elements include:
1. **Support Zone (Blue):** The lower highlighted blue area represents a strong demand zone around the 1.0450–1.0500 range, where buyers have shown interest.
2. **Resistance Zone (Red):** The upper highlighted red area near 1.0780–1.0850 represents a supply zone that could act as a target for a bullish move or a reversal point.
3. **Mid-Level Resistance (Purple):** The purple zone around 1.0600–1.0650 indicates intermediate resistance where consolidation or pullbacks could occur.
4. **Bullish Scenario:** The chart outlines a potential path for the price to move upward, breaking the purple resistance zone before heading toward the red supply zone.
The projection suggests watching for a breakout of intermediate resistance or potential support retests for confirmation of continued bullish momentum.
1. **Support Zone (Blue):** The lower highlighted blue area represents a strong demand zone around the 1.0450–1.0500 range, where buyers have shown interest.
2. **Resistance Zone (Red):** The upper highlighted red area near 1.0780–1.0850 represents a supply zone that could act as a target for a bullish move or a reversal point.
3. **Mid-Level Resistance (Purple):** The purple zone around 1.0600–1.0650 indicates intermediate resistance where consolidation or pullbacks could occur.
4. **Bullish Scenario:** The chart outlines a potential path for the price to move upward, breaking the purple resistance zone before heading toward the red supply zone.
The projection suggests watching for a breakout of intermediate resistance or potential support retests for confirmation of continued bullish momentum.
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