Euro / U.S. Dollar
Long
Updated

EUR/USD Could Take Off From Here! Strategic Setup

106
Hi traders! , Analyzing EUR/USD on the 30 minute timeframe, price is currently reacting from a strong support zone near 1.1696, showing potential for a bullish rebound after a sharp drop.

🔹 Entry: 1.1696
🔹 Take Profit (TP): 1.1770
🔹 Stop Loss (SL): 1.1621

After a strong downside move, EUR/USD is attempting a recovery from a key intraday support area. The RSI is bouncing from oversold conditions (around 34), indicating a possible short-term shift in momentum.

Price is also approaching the 200 EMA from below, and a break above could confirm bullish continuation toward the 1.1770 resistance zone. The setup offers a solid risk-reward ratio and aligns with mean reversion expectations.

⚠️ DISCLAIMER: This is not financial advice. Every trader is responsible for their own decisions and risk management.
Trade closed: target reached
🔥

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.