In the current environment, where the market is still pricing in a weaker USD scenario due to expectations of a more dovish Federal Reserve, EURUSD has a solid foundation to maintain its bullish momentum. When the greenback lacks strong upside momentum, capital tends to rotate into counterpart currencies like the euro, especially when the technical structure clearly supports the trend.
From a chart perspective, EURUSD is trading within a well-defined rising wedge, following a clean rhythm of push higher – pull back – continuation. The previous impulsive rally printed a new high, and instead of selling off aggressively, price shifted into consolidation above the equilibrium zone, signaling that buyers remain firmly in control. The Ichimoku system is also leaning bullish, with price holding at elevated levels, reinforcing the trend continuation scenario.
In terms of price action, the 1.1720 zone is a key pivot. It serves both as a healthy retest area within the rising wedge and a balance point where buyers are likely to defend structure. If price pulls back toward 1.1720 and shows a clear bullish reaction, EURUSD has a high probability of extending toward the 1.1790 region — an area where short-term profit-taking and volatility typically emerge.
In summary, with fundamentals and technicals aligned, the highest-probability approach remains buying pullbacks rather than chasing price. And if 1.1790 is tested in the coming sessions, the real question will no longer be whether price can go higher, but whether the market pauses there — or ignites a much larger breakout for the next bullish leg.
From a chart perspective, EURUSD is trading within a well-defined rising wedge, following a clean rhythm of push higher – pull back – continuation. The previous impulsive rally printed a new high, and instead of selling off aggressively, price shifted into consolidation above the equilibrium zone, signaling that buyers remain firmly in control. The Ichimoku system is also leaning bullish, with price holding at elevated levels, reinforcing the trend continuation scenario.
In terms of price action, the 1.1720 zone is a key pivot. It serves both as a healthy retest area within the rising wedge and a balance point where buyers are likely to defend structure. If price pulls back toward 1.1720 and shows a clear bullish reaction, EURUSD has a high probability of extending toward the 1.1790 region — an area where short-term profit-taking and volatility typically emerge.
In summary, with fundamentals and technicals aligned, the highest-probability approach remains buying pullbacks rather than chasing price. And if 1.1790 is tested in the coming sessions, the real question will no longer be whether price can go higher, but whether the market pauses there — or ignites a much larger breakout for the next bullish leg.
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