Alex Dudov
⬤ EUR/USD has hit the pause button after a steady climb along a rising channel on the 4-hour timeframe. Right now, it's hovering around 1.171, riding the momentum from a strong rally that's been respecting that blue ascending trend channel you can see on the charts. Price action is now getting close to a zone where we might see a short-term dip within the bigger picture uptrend.
⬤ The technical setup is pointing toward EUR/USD potentially pulling back toward that black rising trendline sitting around 1.15300—an area that's caught price during earlier corrections. The recent slowdown near the top of that blue channel shows bullish momentum is cooling off a bit, which makes a controlled pullback more likely than any dramatic reversal. Candlesticks near current levels are showing tighter ranges and less conviction, backing up this correction scenario.
⬤ Here's the key thing: this potential move down to 1.15300 isn't being treated as a bearish breakdown—it's just a correction within an uptrend that's still intact. That black ascending trendline is a critical spot where buyers could jump back in, fitting perfectly with the higher-low pattern we've seen building since late November. As long as price stays above that rising support line, the outlook stays positive.
⬤ If buyers do show up near that black trendline like the primary scenario suggests, we could see another push higher toward 1.18500. That target lines up with the broader channel resistance and represents where price might head after shaking off this correction. Bottom line: the market's shifting from explosive gains into consolidation mode, where a temporary dip might actually set up the next leg higher rather than signal the trend is falling apart.
Alex Dudov
