EURUSD | Technical Outlook
Market Structure
EURUSD is currently trading around 1.1780, extending its bullish recovery after invalidating the previous bearish phase. The prior downside move toward the 1.1500 – 1.1550 region has clearly failed, with price forming a strong impulsive rally that pushed the pair toward the 1.1780 area, where it is now stabilizing.
The recent leg higher from around 1.1680 into current levels reflects sustained bullish momentum, supported by higher lows across intraday timeframes. Price action is now consolidating just below resistance, signaling potential continuation rather than exhaustion.
Key Resistance Zone
Immediate resistance is located at 1.1785 – 1.1800, supported by:
- Recent swing highs on H1 and M15
- Psychological round level near 1.1800
- Short-term exhaustion wicks at the top of the move
A confirmed breakout above this zone could open the path toward:
- 1.1830
- 1.1880
Key Support Zone
Immediate support is seen at 1.1750 – 1.1730, which aligns with:
- Recent breakout structure
- Intraday consolidation base
- Confluence with rising moving averages
A deeper support zone is located at:
- 1.1700 – 1.1680
A break below 1.1730 would weaken the short-term bullish structure.
Expectations
Bullish Scenario (Primary)
As long as price holds above 1.1750, the bullish structure remains intact.
A breakout above 1.1800 could trigger:
- A move toward 1.1830
- Further extension toward 1.1880
Momentum remains supported by strong trend continuation on lower timeframes.
Bearish Scenario (Alternative)
Failure to break above resistance may lead to a short-term pullback.
This could result in:
- A move back toward 1.1750
- A deeper correction toward 1.1730 and possibly 1.1700
A sustained break below 1.1730 would shift momentum into a corrective phase.
Outlook
EURUSD remains in a clear short-term bullish trend, supported by strong upward momentum and consistent higher lows. As long as price holds above 1.1750, the upside bias remains favored.
However, 1.1800 stands as a key barrier. A breakout would confirm continuation, while rejection could lead to consolidation before the next directional move.
