EUR/USD Potential Reversal and Support-Resistance Analysis

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Analysis Summary
Change of Character (CHoCH): The CHoCH levels, marked both to the left and near the recent high, indicate shifts in market sentiment. These suggest potential reversals or pauses in the current price direction, providing areas of interest for traders.
Lower High (LH) and Weak High: The lower high formed around 1.09150, noted as a weak high, suggests that buyers struggled to push beyond this resistance. This level might act as a target if a bullish reversal occurs, but it remains vulnerable to further selling pressure.
Support Zones: The chart features two key blue support zones: one around 1.08700 and another lower one near 1.08350. These zones are likely to act as demand areas if the price declines, potentially attracting buyers looking for a bounce.
Strong Low: The strong low, located near 1.08300, serves as a significant support level. A break below this level could confirm a continuation of the bearish trend, while a successful defense may provide a base for a bullish reversal.
Potential Scenarios:
Bullish Reversal: If the price holds above the first blue support zone (around 1.08700), it could bounce and aim for the weak high at 1.09150. A break above this level could see further gains toward the premium resistance zone, indicated in red.
Deeper Bearish Move: Alternatively, if the price fails to hold the 1.08700 support, it may drop toward the strong low support around 1.08300. This could provide another opportunity for buyers, or if broken, signal further downside potential.
Conclusion
The EUR/USD chart suggests a possible reversal from support levels, with key resistance at the weak high of 1.09150. Traders should monitor the support zones closely for signs of buying strength or a breakdown that could lead to further bearish movement.