EURUSD struggles to stay above 1.0400 on Thursday after gaining in the previous two days. The 4-hour chart shows the RSI falling below 50, signaling weakening bullish momentum, while the pair hovers around 1.0350-1.0360, where key technical levels meet. If EURUSD drops below this zone, further declines toward 1.0300 and 1.0250 could follow. On the other hand, resistance is seen at 1.0400, with potential gains extending to 1.0440 and 1.0500 if buyers regain control. Traders are closely watching US jobless claims and labor cost data for further direction, though market moves may remain limited ahead of Friday’s key Nonfarm Payrolls report.
EURAUD – D1 Timeframe
.png)
On the daily timeframe chart of EURAUD, the recent structure break is highlighted by the horizontal arrow, and the drop-base-rally demand zone is highlighted by the rectangle. The bullish array of the moving averages on the daily timeframe chart adds some confluence in favor of the bullish sentiment.
EURAUD – H4 Timeframe
.png)
On the EURAUD 4-hour timeframe chart, we see the SBR pattern currently playing out, with the demand zone just below the liquidity area. The conclusion mainly favors the bull by comparing this with the daily timeframe price action.
Analyst’s Expectations:
Direction: Bullish
Target: 1.67943
Invalidation: 1.62855
CONCLUSION
You can access more trade ideas and prompt market updates on the Telegram channel.
