"EUR/USD Technical Blueprint: Bullish Continuation EUR/USD Technical Blueprint: Bullish Continuation Patterns and Strategic Price Zones Explained
🔹 Market Structure & Trend
The chart shows a clear shift from a ranging phase into a bullish breakout:
Price previously consolidated in a broad horizontal channel, with a strong demand zone (support) established between 1.16000 – 1.16600.
Following a deep liquidity grab on July 17-18, the price bounced sharply from support, creating higher highs and higher lows – a classic bullish structure.
Current momentum shows bullish continuation, as the price broke above local resistance around 1.16645 and is now forming a potential bull flag or bullish pennant pattern.
🟢 Bullish Momentum Confirmation
Price is currently retesting the broken resistance (now acting as support at 1.16645).
If the support holds and bullish momentum continues, the measured move target projects a price move toward 1.17331, the next significant resistance level.
This is also supported by increased volume activity in the breakout zone, as seen on the VPVR.
📊 Key Technical Levels
Level Type Description
1.16000 Major Support Historical demand zone + liquidity grab
1.16645 Support Zone Previous resistance, now retest area
1.16926 Current Price Bullish consolidation forming
1.17331 Resistance Bullish target based on breakout projection
1.17700+ Extension Potential continuation level if momentum persists
🧠 Volume & Volatility Insight
Bollinger Bands are expanding post-breakout, indicating increasing volatility and a potential trend continuation.
VPVR shows a high-volume node around 1.166, confirming it as a strong demand zone.
🔎 Outlook & Strategy
✅ Bullish Bias
As long as the price remains above 1.16645, buying dips could be a favorable strategy.
A break above 1.17000 with strong volume could open a path toward 1.1733 and higher.
❌ Invalidation Level
A strong close below 1.16600 would invalidate the bullish setup and could return price to the lower support around 1.16000.
📌 Conclusion
EUR/USD is displaying strong bullish momentum after breaking a key resistance level and forming a solid support base. A breakout above 1.17000 may lead to a continuation toward 1.17331 and potentially higher. This setup favors bullish positioning with tight risk management.
