EURUSD: Triangle Rejection Signals a Pullback Toward 1.1500

Aug 11

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

Market Analysis

EURUSD previously traded inside a descending channel before breaking above resistance and shifting bullish. After the breakout, price formed a range below the 1.1570 Resistance Zone, where a recent fake breakout was rejected.

Currently, EURUSD is trading below the 1.1570 Resistance Zone while holding above the 1.1500 Support Zone. The rejection from resistance and descending triangle resistance suggest that sellers may regain control.

My Scenario & Strategy

As long as EURUSD remains below the 1.1570 Resistance Zone and respects the triangle resistance line, the bearish scenario remains valid. A rejection from current levels could push price toward the 1.1500 Support Zone (TP1).

However, a breakout above 1.1570 would weaken the bearish outlook and increase the risk of further upside.

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

Aug 12

Trade active

As long as the price holds the descending triangle resistance line, our scenario remains valid and we continue to watch!

Aug 14

Trade closed: target reached

Overall, we were able to drop to the support zone, which is also a good result, but we see that buyers are still defending this level!