4 min readWelcome back, everyone, to another technical update on EUR/USD.
We begin today’s report on the daily timeframe, where there are no major developments, but the overall structure remains bullish.
Price continues to form higher highs and higher swing lows, indicating that the uptrend is still intact on the higher timeframes.
However, today’s session is particularly important due to several high-impact news releases that could act as key catalysts:
- Eurozone Inflation Rate
- EU and U.S. GDP Growth
- U.S. Personal Spending & Personal Income
These reports could trigger significant volatility and may determine whether EUR/USD breaks higher or reverses back into support.
4H Chart – Coiling Below Range EQ, Momentum Building
Dropping down to the 4-hour chart, price is still trading just below the range EQ level marked around 1.14200, as noted in yesterday’s update.
We’re also seeing the 20 EMA and 50 EMA on the 4-hour chart start to flatten out, providing a clear visual representation of the current sideways market environment.
Despite the consolidation, there are bullish signs building, with local higher highs and higher lows starting to emerge on the 4H structure.
Key Levels to Watch:
- Range EQ (Reclaim Level): ~1.14200 – A confirmed reclaim could open the way to a test of range highs at 1.15500
- Range Lows / Local Support: ~1.12800 – A break below could target the higher timeframe breakout level at 1.12000
- Deeper Support (HTF): ~1.10800 – This level could come into play if we see significant downside momentum following bearish data surprises
Given the amount of macro data on the calendar today, it’s critical to monitor price behavior around these levels, particularly during and after the news releases.
We’ll be watching closely and will provide follow-ups based on how price reacts.
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