Pair: EUR/USD
Timeframe: 30-Minute
The EUR/USD pair has just completed a classic technical move that started with a fake trendline breakdown followed by a strong bullish breakout This setup offers important insights for both bulls and bears.
Technical Overview:
Trendline Structure:
Price had been respecting a rising trendline for several sessions until a brief breakdown occurred — a move that turned out to be a fakeout This false signal likely trapped early sellers only for the price to recover and launch higher
Breakout Confirmation:
After invalidating the breakdown EUR/USD rallied and broke above the descending triangle resistance signaling strong bullish momentum.
Now Testing Resistance:
Price is currently trading around 1.1035–1.1050 entering a known resistance zone This level has previously acted as a reversal area so caution is warranted.
Potential Scenarios:
1. Bullish Continuation
If price holds above 1.1018 and builds support a sustained push toward 1.1100–1.1150 could follow.
2. Bearish Rejection
Alternatively a rejection from the resistance zone may trigger a move back down toward 1.1018 followed by deeper support levels at 1.0906 and 1.0879 If bearish pressure intensifies price may revisit the broader support zone near 1.0800.
Key Zones to Watch:
Resistance Zone: 1.1050 – 1.1150
Immediate Support: 1.1018
Lower Support Levels: 1.0906 and 1.0879
Major Support Area: 1.0800
Conclusion
EUR/USD gave us a textbook example of a fakeout before breakout — a reminder of how deceptive the market can be With price now approaching a significant resistance zone the next few candles will be crucial Wait for confirmation before jumping in and always stick to your risk plan.
Stay sharp and trade Smart
Timeframe: 30-Minute
The EUR/USD pair has just completed a classic technical move that started with a fake trendline breakdown followed by a strong bullish breakout This setup offers important insights for both bulls and bears.
Technical Overview:
Trendline Structure:
Price had been respecting a rising trendline for several sessions until a brief breakdown occurred — a move that turned out to be a fakeout This false signal likely trapped early sellers only for the price to recover and launch higher
Breakout Confirmation:
After invalidating the breakdown EUR/USD rallied and broke above the descending triangle resistance signaling strong bullish momentum.
Now Testing Resistance:
Price is currently trading around 1.1035–1.1050 entering a known resistance zone This level has previously acted as a reversal area so caution is warranted.
Potential Scenarios:
1. Bullish Continuation
If price holds above 1.1018 and builds support a sustained push toward 1.1100–1.1150 could follow.
2. Bearish Rejection
Alternatively a rejection from the resistance zone may trigger a move back down toward 1.1018 followed by deeper support levels at 1.0906 and 1.0879 If bearish pressure intensifies price may revisit the broader support zone near 1.0800.
Key Zones to Watch:
Resistance Zone: 1.1050 – 1.1150
Immediate Support: 1.1018
Lower Support Levels: 1.0906 and 1.0879
Major Support Area: 1.0800
Conclusion
EUR/USD gave us a textbook example of a fakeout before breakout — a reminder of how deceptive the market can be With price now approaching a significant resistance zone the next few candles will be crucial Wait for confirmation before jumping in and always stick to your risk plan.
Stay sharp and trade Smart
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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.
Related publications
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.