The EUR/USD pair is showing early signs of bullish correction after a strong downtrend that broke out of the previous consolidation zone around 1.1650 – 1.1700.
On the H1 timeframe, price has completed a clear falling channel structure and is now attempting to establish a short-term base near 1.1580 – 1.1620. This region acts as both a support retest zone and a potential accumulation range before any continuation move.
Technical Overview
Trend bias: Bearish-to-neutral (possible corrective phase)
Support zone: 1.1580 – 1.1600
Resistance zone: 1.1640 – 1.1660
EMA 50 & 200: Bearish alignment but flattening, signaling slowing momentum
RSI (H1): Recovering from oversold territory, suggesting short-term rebound potential
Trading Strategy
A potential buy opportunity may emerge if the price retests the lower boundary near 1.1580 and holds above it.
The projected path indicates a rebound toward 1.1640 – 1.1660, where sellers may again appear to defend the upper range.
If EUR/USD breaks and sustains above 1.1660, the next upside target could expand toward 1.1720.
Traders should remain cautious of false breakouts and watch for confirmation signals before entering trades.
Bias: Short-term bullish correction within a broader downtrend.
Follow for more daily EUR/USD insights and advanced price-action trading setups.
On the H1 timeframe, price has completed a clear falling channel structure and is now attempting to establish a short-term base near 1.1580 – 1.1620. This region acts as both a support retest zone and a potential accumulation range before any continuation move.
Technical Overview
Trend bias: Bearish-to-neutral (possible corrective phase)
Support zone: 1.1580 – 1.1600
Resistance zone: 1.1640 – 1.1660
EMA 50 & 200: Bearish alignment but flattening, signaling slowing momentum
RSI (H1): Recovering from oversold territory, suggesting short-term rebound potential
Trading Strategy
A potential buy opportunity may emerge if the price retests the lower boundary near 1.1580 and holds above it.
The projected path indicates a rebound toward 1.1640 – 1.1660, where sellers may again appear to defend the upper range.
If EUR/USD breaks and sustains above 1.1660, the next upside target could expand toward 1.1720.
Traders should remain cautious of false breakouts and watch for confirmation signals before entering trades.
Bias: Short-term bullish correction within a broader downtrend.
Follow for more daily EUR/USD insights and advanced price-action trading setups.
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🪙 JOIN OUR FREE TELEGRAM GROUP 🪙
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Join the community group to get support and share knowledge!
️🥇 Exchange and learn market knowledge
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Join the community group to get support and share knowledge!
️🥇 Exchange and learn market knowledge
️🥇 Support free trading signals
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.