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EUR/USD
Buy
• Entry Criteria Not Met
• Updated 3 days ago
Description
EUR/USD is currently compressing inside a descending channel structure on the 4H timeframe. Price has recently printed higher lows near the lower boundary while repeatedly testing the 1.18300 horizontal resistance level — forming bullish accumulation under resistance.
Technical confluences:
Descending channel structure nearing upper boundary retest.
Short-term moving averages beginning to flatten and curl upward.
50 MA stabilizing near price, suggesting momentum transition.
Price holding above recent internal higher low.
RSI stabilizing above 50 zone, indicating building bullish momentum.
A clean 4H close above 1.18300 would confirm breakout from short-term descending pressure and shift structure toward bullish continuation.
Upside expansion would first target prior structural resistance at 1.19030 (TP1), followed by 1.19810 (TP2) — aligning with previous swing highs.
Alternatively, if price rejects the channel top and pulls back into support, bullish rebound setups remain valid if higher low structure remains intact.
Technical confluences:
Descending channel structure nearing upper boundary retest.
Short-term moving averages beginning to flatten and curl upward.
50 MA stabilizing near price, suggesting momentum transition.
Price holding above recent internal higher low.
RSI stabilizing above 50 zone, indicating building bullish momentum.
A clean 4H close above 1.18300 would confirm breakout from short-term descending pressure and shift structure toward bullish continuation.
Upside expansion would first target prior structural resistance at 1.19030 (TP1), followed by 1.19810 (TP2) — aligning with previous swing highs.
Alternatively, if price rejects the channel top and pulls back into support, bullish rebound setups remain valid if higher low structure remains intact.