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.