FX.co ★ Melsiafy | EUR/USD

Welcome everyone to my latest technical breakdown where we dive straight into EURUSD on the 4-hour chart, currently hovering right around 1.14674 in a high-stakes structural squeeze. After a long-term corrective phase off the major highs above 1.2000, price action broke above the falling trendline resistance, surged toward 1.1700, and is now retesting this very intersection. What makes this area so captivating to me as a trader is the confluence between the descending trendline retest and the horizontal demand block extending between 1.13000 and 1.14500 (highlighted in red). We are sitting right at a major decision point where institutional buyers must defend this structural floor, or sellers will push for a complete macro breakdown. As I evaluate the market geometry, I can clearly observe an intense tug-of-war taking place right above key structural levels. The immediate support floor at 1.14000 to 1.13000 is acting as the primary line of defense for macro bulls, while immediate resistance sits around 1.16000 and the previous local high near 1.17000, followed by strong overhead supply at 1.18500. This coiling structure inside a key retest zone gives us two high-probability trade paths. Rather than trying to guess the next move prematurely, I am setting up two clear, actionable scenarios to capture whichever side wins this structural battle. Bullish Rebound Scenario (Buy Setup) My primary long scenario activates if price respects the trendline retest and delivers a clean bullish reversal off the support block: Buy Entry Level: 1.14600 (Entering on confirmed price rejection wicks near the trendline retest floor). First Target Objective (TP1): 1.16000 (Testing immediate horizontal resistance). Second Target Objective (TP2): 1.17000 (Reaching the late summer swing high). Macro Extended Target Objective (TP3): 1.18500 (Full target aimed at the major overhead supply wall). Protective Stop Loss: 1.13800 (Positioned safely under the local demand pivot). Bearish Breakdown Scenario (Sell Setup) My secondary short scenario triggers if heavy selling volume destroys the demand zone with a firm 4-hour candle close below support: Sell Entry Level: 1.12900 (Executing sell orders upon a confirmed 4-hour candle close below the 1.13000 floor). First Target Objective (TP1): 1.11500 (Targeting the next major horizontal support floor). Second Target Objective (TP2): 1.10000 (Approaching the psychological key level). Macro Extended Target Objective (TP3): 1.08500 (Extended markdown target toward lower macro structure). Protective Stop Loss: 1.13700 (Anchored above the breakdown point to manage risk against false breakouts).