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EURUSD Analysis

We note that the EUR/USD pair is trading within a horizontal fluctuation trend on the four-hour frame, and the price is within very clear support and resistance areas.

🔹Main resistance area above:
1.18500

🔹The main supported areas are as follows:
1.16500

Price is currently trading within this range and every time these areas are touched we see a clear reaction from the market.

📌 If the price breaks below the 1.16500 area, the decline is expected to continue towards this area:
1.14500

However, if we look downward on the hourly chart, we see that the price is forming an upward wave in a clear uptrend, and the trendline is drawn by connecting the three major lows.

But after breaking out of the last bottom, the price began to form a bearish wave and retest, indicating that the selling pressure is still ongoing for now.

📉Expected scenarios:
As long as the price maintains current pressure, the decline is likely to continue towards the 1.16500 support area.

📍 When price reaches support area:
We start monitoring the formation of buying opportunities on smaller frames such as:

* Frame 30 minutes
* Frame 15 minutes

📍 If the price rebounds upward and reaches the resistance area:
With another rebound to the downside likely, we are looking for new selling opportunities.

📢 For more analysis and daily updates, please follow the channel.

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