EURUSD - Accumulation below resistance level of 1.17000

🔍 1. Technical Analysis

📈 Trend & Structure

Previously: strong bullish move → forming a mid-term top
Currently:
Price is consolidating below the 1.1700 – 1.1720 resistance zone
A rounded top pattern is forming with weakening momentum

🧠 Key Structure

Signs of:
A minor Lower High → buying pressure is fading
A small Break of Structure (BOS) to the downside
Price is:
Moving sideways within a tight range
Likely to form a deeper pullback

👉 Implication:
The market is shifting from bullish → into a distribution / correction phase

📊 Key Levels 🔴 Resistance
1.1700 – 1.1720

🔵 Support
Short-term: 1.1680
Key level: 1.1640 – 1.1650



2. Potential signal:

SELL EURUSD 1.17000 - 1.17150 SL: 1.17400

TP: 1.16700 - 1.16400 - 1.16100



🌍 3. Macro Outlook (EURUSD)

USD (Key Driver)

Key data to watch:
CPI / NFP / Jobless Claims

👉 Impact:

Strong GDP → stronger USD → EURUSD declines
Weak GDP → weaker USD → EURUSD rises

EUR (ECB) : Slightly hawkish bias