FX.co ★ Jackroay | EUR/USD

The EUR/USD pair on the H1 chart is showing a strong bearish trend after failing to hold near the 1.1780 resistance area. Sellers remained active during the whole movement, pushing the price lower step by step and creating lower highs and lower lows. This structure clearly shows that bearish momentum has controlled the market for several sessions. The pair dropped sharply toward the 1.1620 support zone, where buyers finally started reacting. A small recovery can now be seen from the recent low, but the bullish movement still looks weak compared to the earlier selling pressure. The current price around 1.1639 is trying to stabilize, and traders are watching carefully to see whether this recovery can continue or if it is only a temporary correction before another sell-off. If the price stays below 1.1660–1.1680, sellers may continue dominating the market. Volume and momentum also suggest that traders remain cautious because the pair has not yet broken any major resistance level on the upside.

From a technical perspective, the nearest support is located around 1.1620 and below that the next important level can be seen near 1.1600. If the market breaks under this area, bearish pressure may increase again and open the way for a deeper decline. On the bullish side, buyers need a strong breakout above 1.1660 to confirm a short-term recovery. A successful move above this level could push the pair toward 1.1700, where strong resistance may appear again. The candles near the bottom also show signs of slowing bearish momentum, which means consolidation or a correction phase is possible in the short term. However, the overall trend still remains bearish on the H1 timeframe until stronger buying momentum appears. Traders should also monitor upcoming economic news from the Eurozone and the United States because high-impact events can quickly change market direction and increase volatility in EUR/USD trading.