EURUSD remains firmly bullish on all major timeframes, respecting the internal structure of an ascending channel.
• Daily: Price continues to respect both the red trendline and broader purple bullish channel. Buyers are defending the mid-line and pushing toward the upper boundary.
• 4H: Clear higher highs and higher lows. Price recently revisited and bounced off a 4H demand zone (1.14750–1.15000), and is now testing the liquidity zone at 1.16400.
• 1H: Microstructure shows consolidation and possible absorption of liquidity just beneath the 1.16415 high. A clean break and retest of this level may confirm continuation.
Key Levels:
• Resistance: 1.16415 (previous high and liquidity trap)
• Support: 1.14900 (4H demand zone)
• Daily trendline holding as dynamic support
Trade Plan:
• Longs: Await a break and retest of 1.16415 or a retracement to 1.15600 for a more discounted entry.
• Shorts: Not favored unless a strong bearish engulfing forms below 1.1600 with structure shift on the 1H.
• Daily: Price continues to respect both the red trendline and broader purple bullish channel. Buyers are defending the mid-line and pushing toward the upper boundary.
• 4H: Clear higher highs and higher lows. Price recently revisited and bounced off a 4H demand zone (1.14750–1.15000), and is now testing the liquidity zone at 1.16400.
• 1H: Microstructure shows consolidation and possible absorption of liquidity just beneath the 1.16415 high. A clean break and retest of this level may confirm continuation.
Key Levels:
• Resistance: 1.16415 (previous high and liquidity trap)
• Support: 1.14900 (4H demand zone)
• Daily trendline holding as dynamic support
Trade Plan:
• Longs: Await a break and retest of 1.16415 or a retracement to 1.15600 for a more discounted entry.
• Shorts: Not favored unless a strong bearish engulfing forms below 1.1600 with structure shift on the 1H.
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.
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.