FX.co ★ HAPPY KILLER | AUD/USD

EUR/USD H1 Timeframe Analysis 24 February 2026 The EURUSD H1 chart displays a predominantly bearish-to-neutral market structure over the observed period. Following a sharp decline from the 1.1890 region, the price action has shifted into a corrective and consolidatory phase. The most prominent feature of this chart is the series of lower highs established between February 13th and 18th, indicating a period of heavy selling pressure. Currently, the pair is oscillating within a tight horizontal range near the 1.1778 level, as highlighted by the two parallel support/resistance lines. This area represents a critical psychological and technical junction. The Moving Average (MA) (depicted by the red line) is currently sloping downward and tracking closely with the price, acting as dynamic resistance. The most recent price action shows a rejection at the 1.1810-1.1840 zone, followed by a slow bleed back toward the 1.1770 support. From a candlestick perspective, the presence of long upper wicks near the 1.1840 peak (Feb 20-23) suggests that bull traps were set, where buyers were unable to maintain momentum, leading to a quick reversal. The market is now in a wait-and-see mode, compressed between the recent swing low of 1.1750 and the immediate resistance at 1.1800. A break out of this narrow corridor will likely dictate the direction for the next 24–48 hours. Trade Setup: The Breakout/Retest Strategy. Given the current consolidation, the best approach is to wait for a confirmed break of the established horizontal levels. Option A: Bearish Continuation (Sell) • Entry: Sell on a H1 candle close below 1.1770. • Stop Loss (SL): Above the recent minor swing high at 1.1805. • Take Profit (TP): Target the previous structural low at 1.1735. • Rationale: The primary trend on this timeframe remains bearish; a break of current support confirms the next leg down. Option B: Bullish Reversal (Buy) • Entry: Buy on a H1 candle close above the Moving Average and the 1.1810 resistance. • Stop Loss (SL): Below the consolidation floor at 1.1765. • Take Profit (TP): Target the high-liquidity zone near 1.1860. • Rationale: A move above 1.1810 would signal a "double bottom" or a shift in market structure from bearish to bullish. Summary Table: • Major Resistance: 1.1890. Recent swing high/Top of range. • Immediate Pivot: 1.1800. Psychological level and MA crossover point. • Current Support: 1.1772. Current floor where price is finding buyers. • Major Support: 1.173. Key historical level for a potential deep reversal.