Selena | EURUSD 4H | Higher-Timeframe Channel Support Reaction
FX:EURUSD
After a strong bullish expansion toward the upper range highs, price entered a corrective phase. The current decline has reached a confluence zone consisting of prior support and channel support, where selling momentum has slowed. This suggests potential for a technical bounce as long as structure holds.
Key Scenarios
Bullish Case
If price holds above the current demand zone and respects the ascending channel:
Target 1: 1.1720
Target 2: 1.1800
Target 3: 1.1880 1.1900
Bearish Case
A decisive 4H close below 1.1575 would break the channel structure and open the door toward lower liquidity levels near 1.1510 1.1485.
Current Levels to Watch
Resistance : 1.1720 1.1800 1.1880
Support : 1.1640 1.1575
Disclaimer: This analysis is for educational and informational purposes only. It is not financial advice. Please conduct your own research before trading.