FX.co ★ Alpha302 | EUR/USD

EUR/USD Technical Analysis H-4 Chart

Yes, in general, it is not even clear what we have now on EURUSD. If we take the H4 chart, then it seems like the correction is still so deep. Because significant extremes have not yet been broken. But this does not cancel the southern forecast. On the other hand, since the correction can still continue in principle, I personally do not see any obstacles as such. Monday turned out to be restrained but still bearish; it sometimes sets the tone for the weekly market. Yes, it was not possible to significantly update the minimums, but the pair also could not rise above Mashka on H4, which means that the bulls have no power here in essence. And there is no strong support here; that is, we can easily still sag by at least a small amount. A nice and smooth descending channel has been lasting for about two weeks already, and I personally have not seen any signs of its end. The pins are questionable; they were often drawn before, and then they still went down. So it's not too late to sell even at current prices, but it would be better to wait for the noise upwards and at least try from 1.1690. I agree with reaching 1.1600; the main goal is there. Well, the Fed is really unlikely to lower the rate in September. And in essence, Powell is not a person who single-handedly makes decisions on the rate, but everything is done collectively, and therefore these threats to dismiss Powell look, of course, frightening, and the market may be shaken, but in essence this will not have any consequences on the rate.