FX.co ★ sohailmazari | EUR/USD

EURUSD H4 We are presently delving into the pricing dynamics of the EUR/USD currency pair, observing its movement within key ranges. Notably, the price has traversed two significant thresholds, ranging from 1.08545 to 1.08571 and 1.08636 to 1.08680.Our strategy involves initiating selling positions, having already secured a 50% profit, while the remaining position remains resilient against losses. With the price lingering below 1.08345, it signals a probable phase of consolidation in the initial

half of the day. Supportive of our analysis, a distinct support zone has materialized beneath the current price span, delineated from1.08278 to 1.08153. Howeverour strategicapproachsuggests a more prudent entry into sellingduring either a false breakdown scenarioortrial of1.08575. Such a move isanticipated tolead toaretracement back to 1.08208upon executing the entry Anticipating a sustained downtrend, we foresee a consolidation trend directed towards the pivotal support bracket ranging from 1.07974 to 1.07849. This particular range holds promise for potential buying opportunities, particularly through a false breakdown mechanism. Nevertheless, until the price aligns with this support territory, it remains judicious to maintain selling positions, with a stop loss set at 1.08778, accounting for potential false breakdowns en route to subsequent resistance areas.