Following a steady recovery from the 1.1600 low in mid-July, 
EURUSD has been carving out a short-term bullish structure, leaving multiple Fair Value Gaps (FVGs) behind. However, current price action around the 1.1750 level signals hesitation, as the pair repeatedly tests the resistance near 1.1780–1.1800, creating a new downside FVG in the process.
Technically, the presence of an unfilled FVG near 1.1720 suggests the market could temporarily pull back to close this gap before continuing its broader trend. Despite this, the pair remains within a consolidation range, awaiting new macroeconomic drivers—particularly Eurozone inflation data and potential Fed commentary later this month.
For now, traders should watch for a dip toward 1.1720 as a healthy technical correction rather than a trend reversal.
EURUSD has been carving out a short-term bullish structure, leaving multiple Fair Value Gaps (FVGs) behind. However, current price action around the 1.1750 level signals hesitation, as the pair repeatedly tests the resistance near 1.1780–1.1800, creating a new downside FVG in the process.Technically, the presence of an unfilled FVG near 1.1720 suggests the market could temporarily pull back to close this gap before continuing its broader trend. Despite this, the pair remains within a consolidation range, awaiting new macroeconomic drivers—particularly Eurozone inflation data and potential Fed commentary later this month.
For now, traders should watch for a dip toward 1.1720 as a healthy technical correction rather than a trend reversal.
Trade closed: target reached
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Disclaimer
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