EURUSD – Breakout Confirms Bullish ContinuationEURUSD has just successfully broken out of a corrective triangle pattern, confirming that the bullish structure remains intact. The price reacted well to the support zone around 1.1660 and bounced back, opening the way toward the 1.1820 target in the short term.
On the news front, the euro is gaining support as the Eurozone’s July CPI held steady at 2.6%, indicating that inflationary pressures have not fully eased—this may prompt the ECB to maintain a tighter policy for longer. Meanwhile, the USD is under mild correction pressure after U.S. CPI came in higher than expected but not strong enough to reignite rate hike expectations from the Fed.
Given the current technical setup and news backdrop, EURUSD could continue rising in the coming sessions as long as it holds above the trendline support.
