Alex Bobrov
⬤ EUR/USD is trading sideways after losing its upward momentum, with price hovering around the 1.1790 region. The pair is moving in a tight range below a marked resistance area rather than pushing higher. The current setup reflects a bearish expectation aimed at completing a sell program if price reacts from resistance.
⬤ The price structure shows the market recently declined from higher levels before entering this tight consolidation. Candles display limited volatility and compression, suggesting the market is balancing before making its next directional move. The projected path illustrates a small upward reaction followed by a continuation lower, highlighting the possibility of sellers regaining control while price remains capped below resistance.
⬤ Key levels define the potential movement. A resistance zone sits above the current consolidation area, while horizontal support is marked near the 1.1775 region. The projected move shows a brief test toward the mid-range before a potential drop toward that support level. The structure doesn't yet confirm a breakdown, but the bias remains bearish while EUR/USD trades beneath the resistance boundary.
⬤ This matters because EUR/USD often reflects short-term shifts in dollar strength and broader currency sentiment. Consolidation below resistance can precede increased volatility once price breaks the range. If this projected move unfolds, it could reinforce short-term downside pressure across major currency markets while remaining sensitive to macro drivers.
Alex Bobrov
