FX.co ★ Afzalgi54 | EUR/USD

The EUR/USD 1‑hour chart you shared shows price action with volume, RSI, support, and resistance levels that can be analyzed to understand market work and trading opportunities. Market Work & Volume The volume bars at the bottom of the chart represent the amount of trading activity per hour. *High volume* spikes often accompany strong price moves, confirming the momentum. For example, the upward move around the 24th had noticeable volume, indicating buyer interest. *Low volume* periods (thin bars) suggest weak conviction, making price movements less reliable.

Volume analysis helps confirm breakouts or reversals. A breakout above resistance on high volume is more likely to sustain than one on low volume. RSI (Relative Strength Index) The RSI indicator (not fully visible but implied in the oscillator pane) measures momentum and overbought/oversold conditions. RSI above 70 typically signals overbought conditions, hinting at possible pullbacks. RSI below 30 indicates oversold conditions, suggesting potential rebounds. Using RSI with support/resistance can improve timing for entries or exits. Support & Resistance The chart marks two pink zones as major *support* and *resistance* areas: 1. *Resistance* near *1.18000*: The price has tested this level multiple times and failed to break higher, making it a strong sell zone. 2. *Support* around *1.17000*: This lower zone has acted as a floor; breaking below it could trigger further downside. Intermediate support/resistance (the dotted line in the middle) acts as a pivot, where price may bounce or reverse. Trading Implications *Bullish scenario*: If price breaks and holds above 1.18000 with high volume and RSI turning upward, the pair could target the next resistance higher. *Bearish scenario*: A break below 1.17000 on strong volume with weakening RSI would signal further decline, targeting lower support levels. Key Levels to Watch *Pivot*: current price 1.17459. *Immediate resistance*: 1.18000. *Immediate support*: 1.17000. Strategy Tips 1. *Confirm* breaks with volume and RSI alignment. 2. *Set stop‑loss* just below support (for longs) or above resistance (for shorts). 3. *Monitor* intraday news that can spike EUR or USD strength, affecting the pair.