Hi guys, this is my overview for EURUSD, feel free to check it and write your feedback in comments👊
The price traded in a flat range between $1.1500 and $1.1750 for an extended period, testing both extremes multiple times with low volatility and indecision.
A breakout above $1.1750 initially looked promising but turned into a fakeout when sellers quickly pushed the price back below $1.1725, trapping aggressive longs.
After that shakeout, buyers regained control and propelled EUR into a rising channel, marked by higher highs and higher lows since the end of June.
Price has since respected the lower boundary of this rising channel near $1.1725–$1.1750, using it as reliable support for continued gains.
With two confirmed breakouts and the channel structure intact, bullish momentum suggests the pair can extend its move higher within the channel.
I expect Euro to continue climbing toward the next key resistance at $1.1980, where the upper channel line and structural supply zone converge.
If this post is useful to you, you can support me with like/boost and advice in comments❤️
Disclaimer: As part of ThinkMarkets’ Influencer Program, I am sponsored to share and publish their charts in my analysis.
The price traded in a flat range between $1.1500 and $1.1750 for an extended period, testing both extremes multiple times with low volatility and indecision.
A breakout above $1.1750 initially looked promising but turned into a fakeout when sellers quickly pushed the price back below $1.1725, trapping aggressive longs.
After that shakeout, buyers regained control and propelled EUR into a rising channel, marked by higher highs and higher lows since the end of June.
Price has since respected the lower boundary of this rising channel near $1.1725–$1.1750, using it as reliable support for continued gains.
With two confirmed breakouts and the channel structure intact, bullish momentum suggests the pair can extend its move higher within the channel.
I expect Euro to continue climbing toward the next key resistance at $1.1980, where the upper channel line and structural supply zone converge.
If this post is useful to you, you can support me with like/boost and advice in comments❤️
Disclaimer: As part of ThinkMarkets’ Influencer Program, I am sponsored to share and publish their charts in my analysis.
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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.
🔶 Free telegram channel👉 bit.ly/4fKXOY0
🔥 Join our paid VIP community with Forex and Crypto signals in order to improve your trading skills, my contact 👉 bit.ly/4ibtiIs
💎 ThinkMarkets Ambassador Join & explore bit.ly/4j6sALJ
🔥 Join our paid VIP community with Forex and Crypto signals in order to improve your trading skills, my contact 👉 bit.ly/4ibtiIs
💎 ThinkMarkets Ambassador Join & explore bit.ly/4j6sALJ
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.