EUR/USD) support level pullback Technical AnalysisHELLO 👋 Dear friend Euro USD Traders
Technical analysis of the EUR/USD (Euro vs US Dollar) on the 4-hour timeframe. Here's a summary of the idea and setup shown:H
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1. Key Levels:
Support Level: Around 1.1330–1.1280 — price has bounced from this level several times, indicating strong demand.
Resistance Level: Around 1.1427 — this is the immediate target zone.
Resistance Level 2: At 1.1570, the extended target area.
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2. Current Price Behavior:
Price is currently above the 50 EMA and near the middle of the range.
The chart projects a potential bullish move after a slight pullback toward the support level.
This projected move suggests:
A bounce off support.
A breakout above the immediate resistance at 1.1427.
Continuation toward the upper resistance at 1.1570.
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3. EMA Analysis:
EMA 50 (blue): Price is above it, suggesting short-term bullish momentum.
EMA 200 (red): Located much lower, confirming the overall longer-term bullish bias is still intact.
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4. Price Projection:
Target 1: 1.1427 (approx. +1.33% from breakout).
Target 2: 1.1570 (total gain approx. +2.5%).
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5. Trading Idea Summary:
Bullish Idea (Buy Setup):
Entry: Near support zone (around 1.1330–1.1280).
Targets: 1.1427 (TP1), 1.1570 (TP2).
Stop-loss: Below 1.1280, to protect against a breakdown.
Risk/Reward: Good potential, especially if entering near support.
