EURUSD Rebound From Buyer Zone - Eyes on 1.1840 Resistance

Hello traders! Here’s my technical outlook on EURUSD (1H) based on the current chart structure. The pair previously moved within a broad consolidation phase before breaking higher and forming a temporary distribution range near the top. After failing to sustain above that upper range, price reversed sharply and entered a descending channel, where sellers maintained control and pushed the market into a sequence of lower highs and lower lows. The decline eventually slowed as price approached the highlighted Buyer Zone near the horizontal support area. This region has historically attracted demand, and once again buyers stepped in to absorb selling pressure, leading to a rebound from the lower boundary of the channel. The reaction from this zone suggests that the recent bearish momentum is weakening and that the latest move higher is corrective rather than impulsive. Currently, price is trading above the Buyer Zone while attempting to stabilize after the recent pullback from the channel resistance. As long as EURUSD maintains acceptance above this support band, the structure favors a continuation toward the upper liquidity area. My primary scenario remains bullish while price holds above the 1.1780 support zone. A continuation move could push EURUSD toward the 1.1840 resistance area (TP1), which aligns with the previous breakout region and the upper supply band. This level may act as a reaction zone where sellers could re-enter the market, making it a reasonable area for partial profit-taking. A clean breakout and consolidation above 1.1840 would signal strengthening bullish momentum and open the path for further upside expansion. Please share this idea with your friends and click Boost 🚀

액티브 트레이드

For the euro, the situation is such that the price has already returned to the descending channel and continues to move downward, but this could also be a correction, we will monitor this situation further.

노트

We see that the euro price, having approached the support line, has begun to consolidate again. Buyers have begun to intervene at this level. A trend change is still possible.

매매 수동청산

We can see that the euro has started a recovery movement, but we have not yet reached the targets.

LegionQ8

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LegionQ8

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