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The EUR/USD pair remains under bullish control, reaching 1.1786 during the session and approaching the psychological barrier at 1.1800.
Technical Outlook – 4-hour timeframe:
Intraday movements show a mild pullback due to natural profit-taking after the prior rally, with the Relative Strength Index (RSI) issuing negative signals from overbought levels. Despite this, the pair remains well supported by stability above the 50-period simple moving average, which acts as dynamic support, as well as continued alignment along the ascending trend line visible on the chart.
Probable Technical Scenario:
As long as trading holds above 1.1730—and more importantly above 1.1700—the bullish bias remains dominant. A confirmed break of the 1.1800 psychological barrier would reinforce upward momentum, opening the path toward 1.1830 and potentially 1.1870 as successive resistance levels.
Conversely:
A decisive break below 1.1700 and sustained trading beneath it would reintroduce selling pressure, exposing the pair to a retest of support near 1.1665.
Fundamental Note:
Today’s session brings highly impactful data, including U.S. retail sales and Canada’s Consumer Price Index (CPI) on both annual and monthly bases. These releases could trigger sharp volatility in price action.
Warning: Risks remain elevated amid ongoing trade and geopolitical tensions, and all scenarios should be considered.
Risk Disclaimer: Trading CFDs involves risks, and therefore the scenarios outlined above are not a recommendation to sell or buy but rather an explanatory reading of price movement on the chart.
| S1: 1.1730 | R1: 1.1800 |
| S2: 1.1690 | R2: 1.1830 |
| S3: 1.1660 | R3: 1.1870 |
