EUR/USD, Technical Analysis – H4

The sharp escalation of hostilities in Iran and the Strait of Hormuz has bolstered the US dollar against the euro. Euro bulls have lost the key sloping support, a development that frequently triggers accelerated selling pressure. As a result, a new wave of declines is expected from the 1.1400–1.1410 area, targeting 1.1340 and 1.1300.

Key Levels:

□ 1.1400–1.1410 (immediate resistance / current zone)

□ 1.1340 (first support)

□ 1.1300 (next major target)

Primary Scenario:

Decline from the 1.1400–1.1410 zone towards 1.1340 and 1.1300.

Alternative Scenario:

Consolidation below the 1.1400–1.1420 zone as part of forming a broader descending structure.

Analyst Commentary:

The market remains highly sensitive to geopolitical developments; however, the current technical picture appears largely one-sided.