EURUSD: Key Resistance Holds - Downside Scenario Builds

Apr 17

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

Market Analysis

The EURUSD pair was previously trading inside a descending channel, forming lower highs and confirming bearish pressure. After the breakdown, the price found support and began a recovery phase. After that, the market moved into an ascending structure, forming higher lows along the trend line.

Currently, the price is approaching the resistance zone of 1.1810, where a false breakout and rejection are already visible, signaling selling pressure. At the same time, we can see the formation of a head and shoulders pattern.

My Scenario & Strategy

As long as EURUSD remains below the 1.1810 resistance, the bearish bias becomes valid. A confirmed rejection from this zone could push price toward the 1.1740 support level (TP1). If this level breaks, downside may extend further.

However, if price breaks and holds above 1.1810, the bearish scenario would be invalidated and bullish continuation could follow.

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

Apr 19

Trade active

As we can see, after the second impulse, the price also impulsively went down. I expect it to reach the support zone we defined, after which a reaction is possible!

Apr 20

Trade closed: target reached

I am very pleased with how the analysis worked out. We predicted the price return to the trend line quite accurately! So congratulations on the target!