4 min readEUR/USD – Daily Timeframe
On the daily chart, EUR/USD closed Friday well above the 1.13 resistance area, confirming a breakout from a zone it hadn’t traded above since early 2022. Today, price once again attempted to break above the 1.14 level, although it has not yet managed to hold above that zone at the time of writing.
If today’s candle eventually closes above 1.14, it could offer additional confirmation of strength—especially when paired with last week’s weekly close above 1.13, which already marked a notable structural shift on the higher timeframes.
As mentioned in previous updates, this breakout is significant given how long price remained below these levels. If upward momentum continues, the next major high timeframe resistance sits around 1.16, which may serve as a future reference point.
EUR/USD – 1H Timeframe
Zooming into the 1-hour chart, we’ve identified a short-term range structure with clearly defined reference points:
- Range Highs: 1.14300
- Range EQ (Equilibrium): 1.13500
- Range Lows: 1.12800
A break above the range highs could potentially signal the beginning of a move targeting the high timeframe resistance around 1.16, which we highlighted in the daily analysis. On the other hand, a break below the range EQ might shift focus back toward the range lows.
If range lows fail to hold, price may re-enter the previous consolidation zone—at which point, this structure could be interpreted as a potential distribution range or part of a broader weekly phase shift. These are the key levels we’ll be monitoring closely in the sessions ahead.
That’s it for today’s market update.
We’ve got clear price action and well-defined levels to monitor throughout the day and the week ahead. Make sure to check back tomorrow as we introduce new key zones if needed and track how the markets are reacting to them in real time.
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