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EURUSD, Time frame: 4H EUR/USD continues to trade within a well-defined ascending channel, with higher highs and higher lows supporting the broader recovery from the late-July lows. After pulling back from the resistance near 1.1700, price has rotated lower toward the channel's rising support trendline.
1.1436 Point of Control
The volume profile highlights 1.1436 as the Point of Control (POC), representing the highest concentration of trading activity within the visible range. While price currently trades well above this level, it remains a key longer-term support and value area within the broader uptrend.
Volume Profile
The largest-volume cluster sits between 1.1400 and 1.1560, indicating substantial market acceptance across this range. The recent pullback has remained above this high-volume support zone, helping stabilize price action near channel support.
RSI Recovers
The RSI recently fell toward the 30 level, reflecting a sharp loss of momentum during the selloff from the August high. However, the indicator has begun to recover and is now near 36, suggesting downside pressure has eased as price tests support.
Channel Resistance
On the upside, the upper trendline of the channel near 1.1700–1.1750 remains the key resistance area. Previous rallies stalled in this region, making it the primary technical barrier should the recovery continue.
Disclaimer: The content published above has been prepared by CFI for informational purposes only and should not be considered as investment advice. Any view expressed does not constitute a personal recommendation or solicitation to buy or sell. The information provided does not have regard to the specific investment objectives, financial situation, and needs of any specific person who may receive it, and is not held out as independent investment research and may have been acted upon by persons connected with CFI. Market data is derived from independent sources believed to be reliable, however, CFI makes no guarantee of its accuracy or completeness, and accepts no responsibility for any consequence of its use by recipients.
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