FX.co ★ evanshad | EUR/USD

Technical Analysis of the EUR/USD Pair

The attached EUR/USD chart on the H4 timeframe shows a clear price movement in a strong upward trend since around August 14, 2026. The price is moving regularly within an ascending price channel, drawn in blue, confirming the positive momentum. Currently, the pair is trading near the 1.1681 level, which represents a pivot point that could see consolidation or a short-term reversal. Resistance Levels: We note key resistance levels at 1.1681 (the current consolidation level), followed by 1.1737, which represents the top of the ascending channel and strong resistance. Support Levels: Strong support levels appear at 1.1650, which coincides almost with the channel's midline, and a more significant support level at 1.1589, which represents the base of the ascending channel. The chart clearly shows buyer dominance, as the price respects both the upper and lower boundaries of the ascending channel. The current consolidation around 1.1681 could indicate one of two things: either a build-up of momentum to continue the upward trend and break through the next resistance, or the start of a correction towards the lower support levels within the channel. Consecutive closes of positive candles within the channel support the bullish scenario in the short and medium term. Trading Recommendations: Based on technical analysis, the following recommendations can be made: Buy Strategy: Entry Opportunity: Wait for a clear and sustained breakout above the 1.1681 resistance level with a strong H4 candle closing above it, or wait for a price bounce from the 1.1650 support level with the formation of clear bullish candles. Take Profit Target: The first target is at 1.1737. Stop Loss: Place below the 1.1650 support level to maintain sound risk management. Sell Strategy: Entry Opportunity: If the price decisively breaks below the support level of 1.1650 and closes below it on the H4 candlestick, especially if this coincides with a break below the lower boundary of the ascending channel. Take Profit Target: First target at 1.1589. Stop Loss: Placed above the resistance level of 1.1681.