EURUSD (4H) in a bearish consolidation

Overview: EURUSD bounced back into the 1.1500 zone after briefly touching a two-month low at 1.1498. However, despite the recovery attempt, bullish momentum remains weak, raising the possibility that the recent rebound could be a dead-cat bounce.
XM Group | 91 days ago

Momentum: The sideways movement in both the RSI and the stochastic oscillator casts doubt on the sustainability of any near-term upside extension.

Bearish scenario: Following the rejection around 1.1570, selling pressure is expected to intensify below 1.1524, bringing 1.1490 back into focus. A deeper decline could then expose the 1.1450 region as the next downside target.

Risk: A sustained move above 1.1580, where the 50-weekly SMA is located, could revive bullish momentum and confirm the potential for additional gains.

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