Market Structure
The market remains in a clear short-term uptrend. After an impulsive breakout, price has entered a healthy consolidation phase rather than showing signs of a bearish reversal. This suggests the current move is more likely a pause within the trend.
Resistance
First Resistance: 1.1695–1.1710
This is the recent swing high and the first barrier buyers need to overcome.
Second Resistance: 1.1725–1.1750
A successful breakout above the recent high could expose this next resistance zone.
Support
First Support: 1.1655–1.1670
The recent breakout area, which should act as the first line of support if buyers remain in control.
Second Support: 1.1615–1.1635
If the first support fails, this area becomes the next important demand zone to watch.
Market Sentiment
Market sentiment remains cautiously bullish.
The recent breakout has improved confidence among buyers, but after a strong rally, traders are becoming more selective. Holding above key support will likely be more important than chasing prices higher.
Please share your view below:
Do you think EURUSD is ready to break above 1.1700 and continue its uptrend? Or will the current consolidation develop into a deeper correction?
Feel free to share your thoughts in the comments.
The market remains in a clear short-term uptrend. After an impulsive breakout, price has entered a healthy consolidation phase rather than showing signs of a bearish reversal. This suggests the current move is more likely a pause within the trend.
Resistance
First Resistance: 1.1695–1.1710
This is the recent swing high and the first barrier buyers need to overcome.
Second Resistance: 1.1725–1.1750
A successful breakout above the recent high could expose this next resistance zone.
Support
First Support: 1.1655–1.1670
The recent breakout area, which should act as the first line of support if buyers remain in control.
Second Support: 1.1615–1.1635
If the first support fails, this area becomes the next important demand zone to watch.
Market Sentiment
Market sentiment remains cautiously bullish.
The recent breakout has improved confidence among buyers, but after a strong rally, traders are becoming more selective. Holding above key support will likely be more important than chasing prices higher.
Please share your view below:
Do you think EURUSD is ready to break above 1.1700 and continue its uptrend? Or will the current consolidation develop into a deeper correction?
Feel free to share your thoughts in the comments.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.