Technical Analysis EUR/USD
The EUR/USD pair continues its bullish momentum on higher timeframes but is starting to approach key supply zones where technical correction opportunities may arise.
Daily (D):
The price maintains a solid bullish trend, without registering new bearish structural breaks. Buying pressure remains dominant, although the market may be approaching a point of temporary exhaustion.
H4: In this framework, a new structural break to the upside was observed, consolidating a bullish BOS (break of structure). Currently, the price is reaching a past supply zone that has not been visited in a long time. This confluence suggests a high probability of technical retracement, which could lead the price to mitigate lower demand zones, as well as to cover the 50% Fibonacci retracement level on the daily.
M15:
In smaller fractals, M15 presented a clear accumulation, which was then forcefully broken to the upside, generating a high-precision trade with a R:R of 1:7.17. Subsequently, a new bullish BOS was created, reinforcing the continuity of the momentum.
Scenario to observe: The most likely scenario is that, upon reaching the H4 supply, the price may generate a bearish CHOCH on M15, which would mark the beginning of a downward distribution phase. This action could lead the pair to retest key zones on higher timeframes.
Conclusion: Although the overall structure remains bullish, the arrival at a significant supply on H4, along with signs of prior accumulation on M15, suggests that we might be close to a correction. The behavior in M15 will be crucial to confirm institutional intent.