EURUSD Analysis - Can Buyers Push Price To $1.18000?Hello all dear traders!
EURUSD is trading within a clear bullish channel, with price action consistently respecting both the upper and lower boundaries. The recent bullish momentum shows that buyers are in control, suggesting further upside.
The price recently broke above a key resistance zone and is now coming back to retest it. If this level holds as support, it will consolidate the bullish structure and increase the likelihood of a move towards the 1.18000 target, which is in line with the upper boundary of the channel.
As long as the price remains above this support zone, the bullish outlook remains intact. However, a failure to hold this level could invalidate the bullish scenario and increase the likelihood of a deeper pullback.
Remember, always validate your setups and use appropriate risk management.
