Looking at the chart, EURUSD has completed a breakout from an extended consolidation range and quickly produced a strong bullish move. After reaching a new high, price only pulled back slightly before moving sideways, suggesting that selling pressure is still not strong enough to trigger a reversal.
What stands out is that the bullish structure remains intact, with each new low forming above the previous one. The current correction appears to be more of a pause after the breakout, while price continues to hold firmly above the former resistance zone.
My preferred approach is to look for buying opportunities if EURUSD continues to defend the current short-term support and shows a bullish confirmation signal. The next target is the 1.1555 area, which represents an important resistance level for this move.
If price loses the nearest support zone and breaks the current bullish structure, the bullish scenario will no longer be valid. In that case, I would wait for a clearer setup before entering again.
This is only my personal view based on technical analysis. Wishing you successful trading!
What stands out is that the bullish structure remains intact, with each new low forming above the previous one. The current correction appears to be more of a pause after the breakout, while price continues to hold firmly above the former resistance zone.
My preferred approach is to look for buying opportunities if EURUSD continues to defend the current short-term support and shows a bullish confirmation signal. The next target is the 1.1555 area, which represents an important resistance level for this move.
If price loses the nearest support zone and breaks the current bullish structure, the bullish scenario will no longer be valid. In that case, I would wait for a clearer setup before entering again.
This is only my personal view based on technical analysis. Wishing you successful trading!
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📊 FX | Gold | Crypto
Turning charts into opportunities.
🔍 Volume Analysis
📈 Trend Forecasts
💡 Free Trading Ideas
🌍 Join our growing community:
t.me/+f_vI675IPrQ2N2Q1
Turning charts into opportunities.
🔍 Volume Analysis
📈 Trend Forecasts
💡 Free Trading Ideas
🌍 Join our growing community:
t.me/+f_vI675IPrQ2N2Q1
Publicaciones relacionadas
Exención de responsabilidad
La información y las publicaciones no constituyen, ni deben considerarse como, asesoramiento o recomendaciones financieras, de inversión, de trading u otro tipo, proporcionadas o respaldadas por TradingView. Obtenga más información en Condiciones de uso.