empty
 
 
28.11.2023 08:13 AM
EUR/USD H4 | Bearish react off resistance?

This image is no longer relevant

The EUR/USD chart is indicating a bearish reversal. At present, the chart shows strong support levels:

1st resistance: 1.09572, marked as "Multi-swing high resistance." This level is historically significant, posing a potential barrier to upward movement.

2nd resistance: 1.10076, identified as "Swing high resistance." Its alignment with key technical levels accentuates its importance as a formidable resistance zone.

On the downside, the 1st support: 1.09230, recognized as "An Overlap support." This level represents a significant area where buying interest may emerge, potentially preventing further decline.

2nd support: 1.08795, also backed by "An Overlap support." Multiple indicators or factors converge at this level, enhancing its potential as a robust support zone.

Dean Leo,
Analytical expert of InstaForex
© 2007-2025
Summary
Urgency
Analytic
Dean Leo
Start trade
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $6000 more!
    In December we raffle $6000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback