EURUSD H1: The Price Action Forecast for the European Session on 5.1.2026

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 nearest support level is at the price level of the 1.16719.
This level was formed by the Three Inside Up pattern. This pattern consists of three Japanese candles: the first candle has a short white real body, the second candle has a white real body and is completely inside the body of the first candle, and the third candle is also white and closes above the body of the second candle.
The nearest significant resistance level is at the 1.17541 mark.
This level was formed by the Dark Cloud Cover pattern. The pattern consists of two candles: the first candle is long and white, and the second is black. The second one opens with a gap up and closes below the middle of the real body of the first candle.
Trading recommendations:
The latest signal on the chart indicates the prevalence of the long positions. This signal is valid, until the other pattern is formed.