FX.co ★ EUR/USD

I analyze the EUR/USD currency pair on the daily (D1) timeframe and I clearly see that the market has formed a potentially favorable technical structure for a northward continuation from the key support level at 1.175937. I observe that this level acts as a pivotal zone, and I consider sustained consolidation above it as a strong confirmation signal for further bullish development. I identify the nearest upside objectives at 1.190428 and 1.194676, and I interpret this area as the first significant resistance cluster where price may temporarily pause or consolidate. I note that if bullish momentum remains intact and supported by volume and sentiment, I expect price to overcome this zone and gradually transition toward deeper resistance levels. I highlight the secondary bullish targets at 1.218981 and 1.223063, and I regard these levels as achievable only in the presence of a strong and impulsive upward move. I acknowledge that intraday dynamics introduce short-term uncertainty, as lower timeframes currently show price compression between key intraday support and resistance zones. I recognize that volume accumulation levels around 1.1718–1.1727 are critically important, and I understand that a breakdown below these areas could temporarily invalidate the bullish scenario. I carefully monitor the 1.1709 support, and I accept that a confirmed break below it may lead to a corrective decline toward 1.1688, 1.1673, or even 1.1658 before buyers attempt to regain control. I also observe the presence of an hourly ascending channel, and I interpret its lower boundary as a dynamic support that still favors buyers while intact. I consider the alternative bullish scenario valid if price regains and consolidates above the 1.1742–1.1766 zone, as I then expect renewed growth toward 1.1830–1.1850. I emphasize that market direction remains sensitive to macroeconomic news releases, and I factor fundamental volatility into my risk assessment. I conclude that despite short-term pullbacks and consolidation phases, I maintain a generally bullish bias as long as price holds above the critical daily support and confirms strength through sustained upward structure.

I analyze the current EURUSD price behavior and I note that despite the absence of clear directional certainty, the pair has recently made only a modest downward pullback without being able to immediately test the key support level at 1.1688. I observe that this hesitation indicates a lack of strong selling pressure at the moment, which allowed price to rebound once again above the important intraday level of 1.1719. I see that after this rebound, the market is once more attempting to resume a downward move, which reflects ongoing indecision between buyers and sellers. I pay special attention to the formation of a new ascending channel on the hourly timeframe, and I clearly see that its lower boundary is located just below the 1.1719 support area. I interpret this technical structure as a sign that buyers are still partially controlling the market as long as the channel remains intact. I understand that this configuration outlines two main scenarios for further price development, both of which require close monitoring. I consider that if the price decisively breaks below the 1.1719 level and simultaneously violates the lower border of the hourly ascending channel, bearish pressure is likely to intensify. I then expect the market to move toward the next support levels at 1.1688, followed by 1.1673 and potentially 1.1658. I recognize that these levels may initially attract buyers and provoke corrective rebounds, even within a broader bearish intraday movement. I also acknowledge that such declines would likely be corrective in nature unless accompanied by strong momentum and volume expansion. I remain aware that as long as the price holds above 1.1719 and respects the channel structure, downside risks remain limited and the market may continue consolidating. I emphasize that false breakdowns are possible in this zone, especially during periods of reduced liquidity or ahead of important news releases. I carefully balance my expectations by considering both technical signals and market context. I conclude that the current EURUSD structure reflects a fragile equilibrium, where a confirmed breakdown would open the way for deeper declines, while continued support holding would preserve the potential for renewed upward attempts.