Dmitri Lysenko
⬤ EUR/USD has been stuck in a bearish pattern on the 4-hour chart, printing lower highs and lower lows consistently. After getting rejected near the 1.1800 resistance zone, the pair started sliding faster. The breakdown of several support levels suggests more downside could be coming.
⬤ Multiple attempts to bounce have failed, with price getting rejected each time it approaches former support areas that now act as resistance. Both 1.1700 and 1.1650 got broken without much fight, showing buyers aren't stepping in. Recent pullbacks have been weak and short-lived, meaning sellers are still in control whenever the price tries to recover.
⬤ The next key level to watch sits around 1.1556, which lines up with a wider support zone visible on the chart. This downside target makes sense given how the range keeps expanding lower and how little buying interest we're seeing at intermediate levels. Price keeps getting capped below previous lows, keeping the bearish momentum alive for now.
⬤ What happens with EUR/USD matters beyond just this pair—it often signals broader market sentiment and dollar strength. The ongoing weakness suggests traders are favoring the dollar and staying cautious across forex markets. The 1.1556 level could become important for near-term direction and might influence volatility across other major currency pairs.
Dmitri Lysenko
