EUR/USD, Technical Analysis – H1

The pair is forming another bullish flag within the medium-term uptrend. If the pattern is confirmed, the quotes may advance by the height of the flag, which measures approximately 100 pips. Consequently, the next potential target for buyers stands at 1.1600.

Key Levels:

⬜ 1. 1.1600 — upside target (flag projection)

⬜ 2. 1.1490–1.1520 — consolidation range

⬜ 3. 1.1490–1.1500 — intraday buy zone

Primary Scenario:

Advance toward 1.1600.

Alternative Scenario:

Continued consolidation within the 1.1490–1.1520 range.

Analyst Commentary:

Intraday buy signals emerging in the 1.1490–1.1500 zone carry a high probability of being fulfilled. At the same time, it is equally possible that any such move will be deferred until the start of next week.