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FX.co ★ EUR/USD H4 | Bearish react off resistance?

EUR/USD H4 | Bearish react off resistance?

EUR/USD H4 | Bearish react off resistance?

The EUR/USD is currently signalling the potential for a bearish reversal, with significant support and resistance levels playing vital roles in determining its future direction.

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In terms of resistance, the 1st resistance at 1.10076 is labelled as "An Overlap resistance." This level represents a substantial hurdle to any potential upward price movement, making it a key consideration for traders. Additionally, the 2nd resistance at 1.10616 is categorized as "Swing high resistance," further highlighting its critical role as a resistance zone, especially due to its alignment with key technical levels.

On the support side, the 1st support at 1.09570 is designated as "Pullback support." This level implies a zone where buying interest may emerge, potentially acting as a barrier against further declines. Complementing this, the 2nd support at 1.08795 is backed by "An Overlap support," indicating the convergence of multiple indicators or factors, strengthening its position as a substantial support zone.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade
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