EURUSD Rebounds From Buyer Zone – Recovery Toward 1.1650

Jun 4

Hello traders! Here’s my technical outlook based on the current EURUSD (2H) chart structure. EURUSD previously traded inside a broad ascending channel. After reaching a major turning point near the channel high, price lost bullish momentum and broke below the ascending support line, signaling a shift in market structure. Currently, EURUSD is trading inside a smaller rising channel after finding support near the 1.1590 Buyer Zone. Despite the recent decline, the ascending support line remains intact and continues to provide short-term bullish support. As long as EURUSD holds above the 1.1590 Buyer Zone and respects the ascending support line, a recovery toward the 1.1650 Resistance Level (TP1) remains possible. However, failure to hold support could invalidate the bullish setup and expose the pair to a deeper decline. Please share this idea with your friends and click “Boost” 🚀

Jun 5

Trade active

As we can see today, my assumptions have been confirmed and the euro price has continued to move in the ascending channel, reaching the sellers' zone. Let's see if it can overcome this level!

Jun 7

Trade closed: target reached

Overall, the analysis was successful. After the rebound, we were able to reach the 1.1645 mark, which is already the beginning of the sellers' zone, where they just intervened and pushed the price even lower!