EURUSD: Inverse Head & Shoulders Signals Growth Toward 1.1810

May 8

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

Market Analysis

EURUSD previously traded within a downward channel, confirming bearish momentum. After reaching the lower boundary of the structure, price formed a reversal and broke above the channel resistance, signaling the beginning of a bullish recovery.

Currently, EURUSD is holding above the 1.1720 support zone while trading near the 1.1810 resistance area. Price also formed an inverse head and shoulders pattern near support, and the recent breakout above the neckline confirms increasing buying pressure.

My Scenario & Strategy

As long as EURUSD remains above the 1.1720 support zone and respects the ascending trendline, the bullish scenario remains valid. A continuation higher could push price toward the 1.1810 resistance zone (TP1).

However, if price breaks back below 1.1720 and loses the ascending trendline, the bullish setup would be invalidated, opening the path for a deeper correction.

That’s the setup I’m tracking. Thank you for your attention, and always manage your risk.

May 10

Trade active

Today we can see a small upward movement, now the market is in the so-called accumulation phase. Therefore, we need to wait and see what happens!