The Euro continues to gain strength against the US Dollar within a clearly defined ascending parallel channel. After a period of consolidation between June 6–10, price broke out with strong bullish momentum and is now respecting the channel's structure.
🔍 Key Levels to Watch:
🔺 Resistance Zone: 1.16083 – 1.16419
🔺 Upper Target: 1.16832 – 1.17000
🔻 Immediate Support: 1.15256
🔻 Strong Support: 1.14949
📈 Bullish Scenario: If price holds above 1.15256, we may see a move toward 1.16083 and potentially a breakout to test 1.16419 and 1.16832.
📉 Bearish Scenario: A drop below 1.15256 and a break of the ascending trendline may expose 1.14949 as the next key support.
🧠 Market Insight: This setup favors a bullish continuation while within the channel, supported by recent strong upside moves. Traders should look for confirmation around 1.16083 before expecting a breakout.
✅ Plan your entries wisely. Trade what you see, not what you feel.
🔍 Key Levels to Watch:
🔺 Resistance Zone: 1.16083 – 1.16419
🔺 Upper Target: 1.16832 – 1.17000
🔻 Immediate Support: 1.15256
🔻 Strong Support: 1.14949
📈 Bullish Scenario: If price holds above 1.15256, we may see a move toward 1.16083 and potentially a breakout to test 1.16419 and 1.16832.
📉 Bearish Scenario: A drop below 1.15256 and a break of the ascending trendline may expose 1.14949 as the next key support.
🧠 Market Insight: This setup favors a bullish continuation while within the channel, supported by recent strong upside moves. Traders should look for confirmation around 1.16083 before expecting a breakout.
✅ Plan your entries wisely. Trade what you see, not what you feel.
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.