EURUSD: Rejection at 1.1800 - Correction Toward 1.1730

Apr 14

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

Market Analysis

EURUSD previously traded inside a triangle structure, forming lower highs and higher lows, indicating consolidation before a breakout. After breaking above the triangle resistance, price gained bullish momentum and moved into a range, confirming accumulation. Following this, EURUSD continued higher and formed an ascending channel.

Currently, price is approaching the 1.1800 resistance zone, where a reaction is already visible, suggesting selling pressure at this level.

My Scenario & Strategy

As long as EURUSD remains below the 1.1800 resistance, the bearish scenario becomes valid. A rejection from this zone (fake breakout, wicks, or lower highs) could push price back toward the 1.1730 support zone (TP1). If bearish momentum increases, a break below 1.1730 could lead to a deeper pullback toward lower levels.

However, if price breaks and holds above 1.1800, 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 15

Trade active

We see that the upper band of the channel has been reached, where sellers have reacted and the price is gradually decreasing. Let's watch further!

Apr 16

Note

We see that sellers are increasing the pressure. And the pullback scenario is becoming more possible!

Apr 20

Trade closed: target reached

As we can see, after a very long consolidation, our analysis worked successfully and we achieved our goal!