EURUSD H4 Technical Observations | FOREX BEE

Looking at the EUR/USD H4 chart, here are some key observations:

Fibonacci Levels:
The 0.618 Fibonacci level near 1.0456 appears to be a potential bullish target if price rallies from current levels.

Key Support Zone:
The green support zone around 1.0200-1.0230 looks significant, where buyers may defend the area. A bounce from here could trigger upward momentum.

Trendline Dynamics:
The blue descending trendline may continue to act as resistance if the price moves upward, aligning with the 0.786 Fibonacci level near 1.0531.

Potential Scenarios:
Bullish Case: If the price sustains above the current support, it may target 1.0450 and higher levels.
Bearish Case: A break below the red zone near 1.0200 could indicate further bearish pressure toward 1.0100 or lower.

This setup highlights an interesting reversal or breakdown possibility. Watch for confirmation of support/resistance levels before entering trades.

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