EURUSD Pullback Setup — 1.1480 Becomes the Target

Aug 13

Hello traders! Here’s my technical outlook based on the current EURUSD (4H) chart structure. EURUSD previously traded inside a broad range before breaking below support and moving lower. After forming a base, price broke above the descending trendline, signaling a bullish shift. Price then formed an ascending structure and moved toward the 1.1600 Resistance Level. Currently, EURUSD is trading below the 1.1600 Seller Zone while holding above the 1.1480 Buyer Zone and ascending support line. The latest rejection from resistance suggests that sellers may be preparing for a short-term correction. As long as EURUSD remains below the 1.1600 Seller Zone and respects the ascending support line, the bearish correction scenario remains valid. A rejection could push price toward the 1.1480 Buyer Zone (TP1). However, a breakout above 1.1600 would weaken the bearish outlook. Please share this idea with your friends and click "Boost" 🚀

Aug 14

Trade active

Today on the chart we see the first phase of analysis taking place, namely an upward correction to the trend line, where it will be important to see the reaction of sellers.

Aug 17

Order cancelled

The Euro has broken the trend line and is currently actively testing the support line. Therefore, our pullback scenario is canceled for now!