EURUSD - Can the bulls take control again?

Apr 8

EURUSD has been showing a steady recovery after forming a base in the lower range, pushing higher with improving short-term momentum. The recent move upward has brought price into a key higher timeframe resistance zone, making this area crucial for determining whether the pair can continue its recovery or if a rejection will follow. Price is now trading at a decision point where both bullish continuation and a pullback scenario are valid.

Daily FVG resistance
Above the current price lies a significant daily FVG, which is acting as strong resistance. This zone represents an area where selling pressure previously entered the market, and it is now being tested again. The initial reaction shows hesitation, suggesting that sellers are still active here. A clean break and close above this daily FVG would open the door for further upside, but as long as price remains within or below this zone, rejection remains the more likely short-term outcome.

4h Support FVG
Below the current price, the 4h bullish FVG is acting as support and has already proven to be a strong base for the recent move up. This level is where buyers previously stepped in aggressively, leading to the current push higher. If EURUSD gets rejected from the daily resistance, this 4h FVG becomes the key area to watch for a potential bounce. Holding this support would keep the bullish structure intact on the lower timeframe.

Final Thoughts
EURUSD is currently caught between a strong daily resistance and a reliable 4h support zone. The most likely scenario is a reaction from the daily FVG, followed by a possible pullback into the 4h support before any continuation higher. If buyers manage to break and hold above the daily FVG, the bullish case strengthens significantly. Until then, a short-term rejection and consolidation between these zones remains the most realistic expectation.

Apr 9

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