EUR/USD – Technical Analysis – 4h

The chart shows a recent bullish trend with a series of higher highs and higher lows evident in the last few days.

There is no clear bullish or bearish pattern visible in the last few candlesticks, although the overall upward move is strong.

The price recently broke out above 1.1730, which acted as a minor resistance level. This breakout could potentially signal further bullish momentum if sustained.

The MACD line is above the Signal line, indicating bullish momentum. The recent crossover supports this bullish sentiment.

The MACD histogram shows increasing positive bars, suggesting that bullish momentum is strengthening.

No significant divergences between MACD and price action are visible, aligning with the current bullish trend.

There is a modest increase in volume during the recent price rise, which supports the bullish move.

The consistent volume aligned with price increase indicates genuine interest in the upward move rather than false breakouts.

No major volume spikes were observed that could suggest unusual market activity.

The key support level is around 1.1650, where the price consolidated before the recent rise.

Near-term resistance is around 1.1780, where the price is currently struggling. A clear breakout above this resistance could encourage further upward movement.

Vigilance is required at resistance levels and any signs of reversal.

Consider buying if the price consolidates above 1.1780 with a strong bullish candlestick supported by volume.

Watch for bearish candlestick patterns near the 1.1780 level for potential short-term selling opportunities if accompanied by declining volume and a bearish MACD signal.

Current momentum favors holding long positions as long as the MACD and price trend remain positive.