EURUSD is showing signs of recovery after weeks of selling pressure. Two strong rebounds from the 1.1100–1.1150 support zone suggest that buyers are actively defending this area, forming a potential Double Bottom pattern on the H8 chart.
Notably, price has climbed back above the Ichimoku Cloud and is approaching 1.1270–1.1285, a key resistance zone that has repeatedly limited previous recoveries. A decisive breakout above this area would strengthen the bullish reversal outlook, opening the door for a move toward 1.1400.
Trading Outlook: I favor BUY opportunities, but prefer to wait for a confirmed break above 1.1285 and a successful retest before entering. This would provide stronger confirmation for the 1.1400 target rather than relying on an unconfirmed breakout.
Notably, price has climbed back above the Ichimoku Cloud and is approaching 1.1270–1.1285, a key resistance zone that has repeatedly limited previous recoveries. A decisive breakout above this area would strengthen the bullish reversal outlook, opening the door for a move toward 1.1400.
Trading Outlook: I favor BUY opportunities, but prefer to wait for a confirmed break above 1.1285 and a successful retest before entering. This would provide stronger confirmation for the 1.1400 target rather than relying on an unconfirmed breakout.
Trade active
Want the full plan behind this analysis?
Free daily Forex, Gold, Crypto setups with reasoning
Entry, invalidation, targets and reviews
👉 Join free: t.me/+-HowPr1J4k03NGY1
Educational only. Not financial advice. Trading involves risk.
Free daily Forex, Gold, Crypto setups with reasoning
Entry, invalidation, targets and reviews
👉 Join free: t.me/+-HowPr1J4k03NGY1
Educational only. Not financial advice. Trading involves risk.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Want the full plan behind this analysis?
Free daily Forex, Gold, Crypto setups with reasoning
Entry, invalidation, targets and reviews
👉 Join free: t.me/+-HowPr1J4k03NGY1
Educational only. Not financial advice. Trading involves risk.
Free daily Forex, Gold, Crypto setups with reasoning
Entry, invalidation, targets and reviews
👉 Join free: t.me/+-HowPr1J4k03NGY1
Educational only. Not financial advice. Trading involves risk.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.