EURUSD H1: The Price Action Forecast for the European Session on 15.1.2026

During the previous trading session, the price of EURUSD decreased, moving in the main trend direction on the higher time-frame.
The support and resistance levels:
The closest support to the price is at the 1.16179 mark.
This level was formed by the Hammer pattern, also known as the Pin Bar pattern. This pattern is represented with a single Japanese candlestick which is composed of a small real body and a long lower shadow.
The nearest resistance level is at the level of the 1.16613.
The pattern formed here is Three Outside Bars Down. This pattern is a combination of three Japanese candlesticks. The first candlestick has a short white real body, the second candlestick has a long black real body and completely engulfs the first candlestick, and the third candlestick is also black, closing below the second candlestick.
Trading recommendations:
During the day, it is worth considering the possibilities for opening short positions. This is indicated by both: the dynamics of price movement over a longer distance and the latest formed pattern.