EURUSD: Triangle Resistance Signals Possible Move Toward 1.1380

Jul 7

Hello everyone, here is my breakdown of the current EURUSD setup.

Market Analysis

EURUSD previously traded inside a well-defined upward channel before breaking below channel support, confirming a bearish shift in market structure. Price then continued lower inside a descending channel, where sellers maintained control until buyers defended the 1.1380 Support Zone and triggered a recovery.

Currently, EURUSD is trading above the 1.1380 Support Zone while remaining below the 1.1470 Resistance Zone. Price is consolidating inside a symmetrical triangle, with the upper boundary acting as dynamic resistance and limiting further upside.

My Scenario & Strategy

As long as EURUSD remains below the 1.1470 Resistance Zone and continues to respect the triangle resistance line, the bearish scenario remains valid. A rejection from current levels could push price back toward the 1.1380 Support Zone (TP1).

However, if EURUSD breaks above the triangle resistance and secures a move above the 1.1470 Resistance Zone, the bearish outlook would weaken and a stronger bullish continuation could develop.

That’s the setup I’m tracking. Thank you for your attention, and always manage your risk.

Jul 8

Trade active

We can see that the price has already tried to break the triangle structure down 2 times, which only confirms the pattern. We can only wait for the price to break it and go down!

7 days ago

Trade closed: target reached

Overall, we were able to reach the level of 1.1390. This is the beginning of the buyers' zone where they reacted and the price went up to retest the resistance.