Peter Smith
⬤ EUR/USD has turned bullish on the 4-hour timeframe after breaking structure with a strong upward move. Price is now consolidating, and traders are focused on two imbalance zones below that could catch a pullback. These areas formed when price moved too fast during the rally, leaving gaps that haven't been filled yet.
⬤ The first imbalance sits just below the recent highs and represents the nearest support level where buyers might step in. If that zone doesn't hold, the second imbalance lies deeper down, aligned with the previous consolidation before the breakout. Both zones remain valid until price picks one.
⬤ How EUR/USD reacts at these levels will show whether bulls are in full control or need more time to build strength. A bounce from the first zone signals strong momentum, while a drop to the second suggests a slower, more cautious climb. Either way, the bullish structure stays intact as long as these imbalances hold.
Peter Smith
