Chart Breakdown & Technical Insights
Rising Channel Structure
The chart clearly shows EUR/USD trading within a rising channel, marked by higher highs (red arrows) and higher lows (green arrows) forming parallel support and resistance trendlines.
Key Support Zone & Bounce Potential
The price is currently sitting near the ascending trendline support, highlighted by the shaded gray box and emphasized with a circled area. Many analysts note that this lower boundary—around the 1.1690 level—serves as crucial support on a broader time frame
.
Short-Term Momentum Indicators
According to recent technical calls, EUR/USD maintains a short-term bullish bias in the rising channel. However, some momentum indicators, such as RSI, hint at weakening strength—particularly when higher price highs are not matched with higher RSI peaks, suggesting a bearish divergence
Forex Crunch
.
Potential Upside Trajectory
Should the lower channel support hold, the chart suggests a rebound toward mid-channel or potentially up to the upper boundary. Analysts highlight the 1.1720–1.1750 area as a near-term resistance, with the upper channel boundary closer to 1.1850
Alternative Scenario – Breakdown Risk
If EUR/USD breaks below the channel (below ~1.1690), the bullish structure may falter. That could expose the pair to deeper pullbacks, possibly testing lower support levels around 1.1650 or lower
.
** Summary Table**
Scenario Likely Outcome
Bounce off support Move up toward mid-channel (~1.172) or channel top (~1.185)
Breakdown below support Decline toward lower support zones (1.1650 and below)
Conclusion & Strategy Snapshot
The price is positioned at a critical support within a well-defined rising channel.
The bullish favored path: a rebound from the lower trendline toward resistance levels.
The bearish risk: a breakdown would shift momentum, possibly leading to deeper retracements.
Monitor for price action signals (e.g. bounce, candlestick patterns), RSI behavior, and behavior around these key levels.
Rising Channel Structure
The chart clearly shows EUR/USD trading within a rising channel, marked by higher highs (red arrows) and higher lows (green arrows) forming parallel support and resistance trendlines.
Key Support Zone & Bounce Potential
The price is currently sitting near the ascending trendline support, highlighted by the shaded gray box and emphasized with a circled area. Many analysts note that this lower boundary—around the 1.1690 level—serves as crucial support on a broader time frame
.
Short-Term Momentum Indicators
According to recent technical calls, EUR/USD maintains a short-term bullish bias in the rising channel. However, some momentum indicators, such as RSI, hint at weakening strength—particularly when higher price highs are not matched with higher RSI peaks, suggesting a bearish divergence
Forex Crunch
.
Potential Upside Trajectory
Should the lower channel support hold, the chart suggests a rebound toward mid-channel or potentially up to the upper boundary. Analysts highlight the 1.1720–1.1750 area as a near-term resistance, with the upper channel boundary closer to 1.1850
Alternative Scenario – Breakdown Risk
If EUR/USD breaks below the channel (below ~1.1690), the bullish structure may falter. That could expose the pair to deeper pullbacks, possibly testing lower support levels around 1.1650 or lower
.
** Summary Table**
Scenario Likely Outcome
Bounce off support Move up toward mid-channel (~1.172) or channel top (~1.185)
Breakdown below support Decline toward lower support zones (1.1650 and below)
Conclusion & Strategy Snapshot
The price is positioned at a critical support within a well-defined rising channel.
The bullish favored path: a rebound from the lower trendline toward resistance levels.
The bearish risk: a breakdown would shift momentum, possibly leading to deeper retracements.
Monitor for price action signals (e.g. bounce, candlestick patterns), RSI behavior, and behavior around these key levels.
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Disclaimer
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Join My telegram channel Free:
t.me/tamesbulltarder139
💎
VIP Channels:
Forex:+400Pips & Crypto +420% monthly profit at VIP.
check pinned message in telegram for more information.
t.me/tamesbulltarder139
💎
VIP Channels:
Forex:+400Pips & Crypto +420% monthly profit at VIP.
check pinned message in telegram for more information.
Related publications
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.