✅ Price Action Analysis (H4 Timeframe)
⚡ Market Structure & Rebound from Demand:
The H4 structure reveals that following a sharp decline from the 1.17121 peak, the price found a strong support floor in the 1.15667–1.15800 range (bottom gray box / Major Demand Zone). A micro “Double Bottom” pattern formed in this area, triggering a bullish reversal leg toward 1.16400.
⚡ Current Price Action:
At the 1.16256 price level, the latest H4 candle shows minor consolidation following rejection at the local Supply boundary near 1.16400. The preceding impulsive rise featured a thick green body, confirming that current buying pressure is attempting to shift the short-term bearish structure into a structural recovery.
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✅ Key Zones:
– ⚡Resistance / Supply Zone: The 1.16798 green line range (upper gray box / key SBR area) and the 1.17121 green line range (Major Supply Zone peak).
– ⚡Support / Demand Zone: The 1.16021–1.16137 green line range (nearest local Demand area currently undergoing a retest) and the 1.15667 green line range (bottom floor of the Major Demand Zone).
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✅ Orderflow / Volume Profile (VPVR) Analysis
The Volume Profile histogram on the right side of the chart provides a highly precise map of institutional liquidity:
⚡Local High Volume Node (HVN) / Point of Control (POC):
A significant volume accumulation is visible in the 1.15900–1.16100 range (indicated by the histogram bulge in the lower area). The price’s successful jump and hold above the 1.16021 green line have established this area as a bastion of Orderflow Support, acting to contain pullbacks.
⚡Low Volume Node (LVN) / Volume Vacuum Area:
Above the 1.16300 level and heading toward the 1.16700 range, the volume histogram shows a significant thinning (volume vacuum). If buyers manage to push EUR/USD past the local peak of 1.16400, the price is projected to accelerate rapidly across this volume efficiency gap, targeting the next heavy volume cluster around 1.16798.
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✅ Elliott Wave Analysis
Mapping wave cycle movements on the H4 timeframe:
⚡Wave Structure:
The decline from the 1.17121 peak to the 1.15667 low is calculated as the completion of an A-B-C corrective cycle (or a macro Wave 4).
⚡Current Status:
The impulsive upward surge from the 1.15667 low to 1.16400 is identified as the start of an expansion—either Wave 1 or an impulsive Wave A—of a new recovery cycle. The current consolidation at 1.16256 is interpreted as the formation of a minor retracement sub-wave (micro Wave 2).
⚡Projection:
Price action is projected to complete this minor retracement above the 1.16021 level before launching a major micro Wave 3 expansion across the LVN zone, targeting the green line at 1.16798.