EURUSD is building bullish momentum as it breaks out of a range-bound structure showing signs of a potential upward continuation After a period of consolidation the price has breached minor resistance and is now approaching a key decision zoneKey Technical Highlights
Range Formation The pair has been trading in a horizontal range respecting support around 1.1260 and resistance near 1.1430
Breakout in Progress: Price is breaking above the range midpoint suggesting growing bullish pressure
Support Zone Immediate support now lies around 1.1360 which may act as a retest zone before further upside
Next Resistance Levels
1.1425 – former range top
1.1482 – intermediate resistance
1.1550 – psychological and structural target zone
Technical Outlook
If EUR/USD sustains above 1.1360 we could see a rally toward 1.1500 and ultimately the psychological target of 1.1550 A brief pullback before continuation is possible but the overall structure favors bulls for now Conclusion
EUR/USD is showing signs of strength with a potential breakout scenario unfolding. Keep an eye on how price reacts near 1.1360 and 1.1420. A firm hold above these levels could open the door to a bullish extension toward the 1.1550 region...
Your likes and comments are incredibly motivating and will encourage me to share more analysis with you!
Best Regards TrendLinford!
Trade closed: stop reached
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.
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.