FX.co ★ EUR/USD

Hello traders, EUR/USD managed to close yesterday’s session in positive territory, but buyers are still struggling to strengthen their positions during today’s trading. The pair remains trapped near important technical levels, suggesting that the market is still waiting for a stronger directional breakout before building sustainable momentum. For the bullish scenario to continue developing, buyers now need to break and firmly consolidate above the resistance level at 1.16439. If this breakout is confirmed, the first upside target could be 1.16608. Continued bullish momentum above this zone may later support further growth toward 1.17203. On the bearish side, sellers will need to regain control by pushing the pair below the important support area at 1.15816. A confirmed breakout and consolidation under this level may open the way toward 1.15236. If bearish pressure remains strong, the decline could later extend toward 1.15038. Looking at the M30 timeframe, yesterday’s trading setup anticipated short positions near 1.15887. Although price successfully broke below this level, the move lacked enough momentum to fully reach the first downside target around 1.15810, highlighting the current uncertainty in the market. From a technical perspective, Bollinger Bands indicate that price is attempting to move toward the lower band. However, for a stronger bearish confirmation, traders may want to wait for a confident touch of the lower Bollinger Band and then monitor whether the bands begin expanding outward, which would suggest increasing volatility and stronger downward momentum. The Awesome Oscillator (AO) is currently approaching the zero line. If the indicator crosses below zero and starts actively growing in negative territory during the next trading sessions, it may provide a stronger signal for continued downside movement. On the other hand, renewed acceleration in positive territory would support a bullish recovery scenario. Current intraday trading levels also remain important for short-term positioning. Potential short-selling opportunities may be considered near 1.16102, where a successful breakout and consolidation lower could push the pair toward 1.15987 and 1.15887. Meanwhile, bullish setups may be considered from the 1.16333 area, with additional upside targets near 1.16440 and 1.16554 if buyers manage to maintain control. Overall, EUR/USD remains in a consolidation phase near key support and resistance zones, and the next confirmed breakout may determine the pair’s short-term direction.