Eseandre Mordi
⬤ EUR/USD pushed lower on the 4-hour chart, heading toward the 1.1500 zone after days of steady selling pressure. The pair is now sitting at a level where traders are trying to figure out if this is a buying opportunity or if the decline has more room to run. Recent candles show the downside pressure isn't letting up after multiple failed attempts to break back above short-term resistance.
⬤ The chart tells a pretty clear story throughout November—lower highs and lower lows all the way down. After peaking near 1.1660 earlier this month, EUR/USD gradually dropped into the mid-1.15 range with plenty of volatility along the way. Any bounce attempts have been weak and short-lived, showing bulls haven't found their footing yet. Price is currently hovering around 1.1510–1.1520, right where the latest selling wave left it.
⬤ Buyers have had trouble getting anything going, while sellers keep control below the previous consolidation zone near 1.1580. Several wide-range bearish candles confirm momentum is still pointing down. Without any clear reversal pattern showing up, traders are focused on whether the pair finds support here or continues sliding toward the lower 1.14 area.
⬤ This move matters because EUR/USD often reflects bigger picture trends—things like interest rate expectations, currency strength shifts, and general market liquidity. More weakness could bring additional volatility as the pair gets closer to key psychological levels. How EUR/USD handles this current range will likely determine whether the downtrend keeps going or takes a breather before the next big move.
Eseandre Mordi
