EURUSD Rejected From Seller Zone – Return To The Trend Line

May 7

Hello traders! Here is my technical outlook based on the current EURUSD (2H) chart structure. EURUSD previously traded within a range before breaking out upward and entering a bullish recovery phase. However, after reaching the upper boundary of the structure, price faced strong rejection near the descending resistance line and started showing signs of weakening momentum. Currently, price is trading below the 1.1800 seller zone, while holding above the 1.1720 buyer zone. The market is also respecting the descending resistance line, and recent rejections from this area indicate growing selling pressure. As long as EURUSD remains below the 1.1800 resistance level, I expect a return to the trend line, where buyers are already possible. A deviation from this zone could push the price to the 1.1720 (TP1) support level. Please share this idea with your friends and click "Boost" 🚀

May 8

Trade closed: target reached

Today the chart showed that my expectations were confirmed and the price dropped to a key support zone where buyers reacted again!