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EURUSD H4 Chart Analysis The EUR/USD pair has recently hit a new weekly high, reaching 1.07143, and this level is currently functioning as a strong resistance point. Traders are predominantly inclined towards selling below this level. The nearest target for sellers is identified at approximately 1.06633, which marks a significant support zone. Should the price break below this level, it is expected to decline further, potentially reaching the weekly minimum at 1.06228. Analysts continue to observe a prevailing bearish trend in the market. The primary target for this pair is speculated to be the lower boundary of the trading channel, positioned around 1.05086. Traders are keeping a close eye on how the price action unfolds in the coming sessions, as it will likely provide valuable insights into the direction of the market movement. The recent high of 1.07143 has established itself as a crucial point of interest for market participants. Many are closely monitoring any developments around this level, as a decisive move either above or below could signal a significant shift in market sentiment. Traders who are positioned for a downward movement are particularly attentive to any signs of weakness in the current bullish momentum.

Given the bearish outlook, traders are strategizing their positions accordingly. Short-term traders are looking for opportunities to enter the market on selling positions, targeting key support levels for potential profits. Meanwhile, longer-term investors are assessing the broader market dynamics, aiming to capitalize on the anticipated downward trend towards the lower boundary of the trading channel. Market sentiment remains cautious yet predominantly bearish, as traders await further confirmation of the prevailing trend. The EUR/USD pair continues to attract significant attention from traders and analysts alike, as it navigates through the intricacies of the current market environment. As always, careful risk management and disciplined trading strategies are emphasized to navigate the dynamic nature of the forex market.