Hello everyone, here is my breakdown of the current EURUSD setup.
Market Analysis
EURUSD is trading within a broader bullish structure, but the current price action points to a short-term corrective phase. After establishing an upward channel, price successfully broke above the previous consolidation range, confirming bullish momentum. This breakout pushed the pair higher toward the 1.1770 Resistance Zone, which has historically acted as a strong supply area.
Currently, at this resistance, price has shown hesitation and rejection, indicating that sellers are starting to defend this level. As a result, EURUSD is now pulling back from the highs, moving toward the 1.1720 Support Zone, which aligns with the previous breakout area and the lower boundary of the upward channel. This support zone is critical, as it represents the key demand area sustaining the bullish structure.
My Scenario & Strategy
My scenario is short-term bearish as long as EURUSD remains capped below the 1.1770 Resistance Zone. I expect a controlled pullback toward the 1.1720 Support, where buyers are likely to step in and attempt to defend the trend. A clean breakdown below this support would confirm a deeper correction within the channel.
However, if price holds above the support zone and shows a strong bullish reaction, the broader uptrend remains intact, and another attempt toward the resistance highs may follow. For now, the focus is on the corrective move, with 1.1720 as the key level to watch.
That's the setup I'm tracking. Thank you for your attention, and always manage your risk.
Market Analysis
EURUSD is trading within a broader bullish structure, but the current price action points to a short-term corrective phase. After establishing an upward channel, price successfully broke above the previous consolidation range, confirming bullish momentum. This breakout pushed the pair higher toward the 1.1770 Resistance Zone, which has historically acted as a strong supply area.
Currently, at this resistance, price has shown hesitation and rejection, indicating that sellers are starting to defend this level. As a result, EURUSD is now pulling back from the highs, moving toward the 1.1720 Support Zone, which aligns with the previous breakout area and the lower boundary of the upward channel. This support zone is critical, as it represents the key demand area sustaining the bullish structure.
My Scenario & Strategy
My scenario is short-term bearish as long as EURUSD remains capped below the 1.1770 Resistance Zone. I expect a controlled pullback toward the 1.1720 Support, where buyers are likely to step in and attempt to defend the trend. A clean breakdown below this support would confirm a deeper correction within the channel.
However, if price holds above the support zone and shows a strong bullish reaction, the broader uptrend remains intact, and another attempt toward the resistance highs may follow. For now, the focus is on the corrective move, with 1.1720 as the key level to watch.
That's the setup I'm tracking. Thank you for your attention, and always manage your risk.
Trade geschlossen: Ziel wurde erreicht
Congratulations to everyone. As we can see today, our forecast turned out to be very successful and we reached our goal!
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🚀If you want became part of my trading team & start making big profits welcome to my paid VIP signals group, write me✏️ t.me/ratner_1
❤️Welcome to my telegram channel👉🏼 t.me/ratner_trading
❤️Welcome to my telegram channel👉🏼 t.me/ratner_trading
Haftungsausschluss
Die Informationen und Veröffentlichungen sind nicht als Finanz-, Anlage-, Handels- oder andere Arten von Ratschlägen oder Empfehlungen gedacht, die von TradingView bereitgestellt oder gebilligt werden, und stellen diese nicht dar. Lesen Sie mehr in den Nutzungsbedingungen.