Alex Dudov
⬤ EUR/USD is hanging around the 1.1970 level after a solid push higher, basically taking a breather on the 4-hour timeframe. The price hasn't quite reached the resistance zone marked at the top yet. Right now, the red demand area sitting below current price is what traders are watching to see if the upside momentum holds.
⬤ That red box on the chart? That's where bulls want to see buyers step in if price dips back. If the pair pulls back to this zone and bounces cleanly, it'll help build the kind of structure that keeps the bigger bullish picture intact. The resistance zone above still hasn't been properly tested, so that move is likely still on the table.
⬤ But there's a flip side. If EUR/USD slides through that red demand zone without any real fight, sellers could push things down toward 1.18353. That's the next spot where price might stabilize before deciding what's next. How it reacts there will be key for figuring out whether another run higher makes sense.
Alex Dudov
