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📉 EUR/USD Analysis & Forecast - H4 Time Frame 📊

💶 Technical Overview:

Pattern: EUR/USD is currently following an ascending channel, indicating a gradual upward trend with potential for a bearish breakout.
EMA Crossovers: Price has crossed the 50 EMA and 200 EMA, confirming recent bullish momentum. However, the pair is approaching a strong selling zone at 1.02948.
Key Levels:
Resistance Zone: 1.03930
Support Zone: 1.01590
🔻 Forecast:

Selling Pressure: The pair is expected to face strong selling pressure near 1.02948, making this a critical zone to watch for bearish setups.
Technical Target: The projected downside target is 1.01000, aligning with previous support levels and the lower boundary of the ascending channel.
💡 Trading Insight:

Look for short positions near the resistance zone 1.02948, especially if price action shows signs of rejection.
Monitor the support zone 1.01590 as a potential area for pullbacks or consolidation before further downward movement.