EUR/USD Technical Analysis – H1

The pair symbolically updated its extreme, after which the bulls lost momentum. This may lead to the formation of a “Double Top” reversal pattern and a break of the local trend line. In that case, a decline toward the 1.1450 area becomes possible.

Key Levels:

□ 1.1600 (resistance)

□ 1.1500 (intermediate support)

□ 1.1450 (key support)

Primary Scenario:

Decline toward 1.1500 and 1.1450.

Alternative Scenario:

Continuation of the upward move toward 1.1600.

Analyst Commentary:

Confirmation is preferable for either scenario — ideally in the form of clear bearish or bullish momentum on one of the impulse candles.