Hey traders,
Let’s dive into some weekly price action on EUR/USD and uncover what the charts are really telling us. 📈
🔍 Key observations (weekly Chart):
Major breakout:
Two weeks ago, EUR/USD printed a strong bullish candle that broke and closed above a critical resistance zone, the July 2023 high and September 2024 high.
➡️ This marks a bullish structural shift on the higher timeframe.
Bullish inside bar:
Last week's candle was also bullish but formed an inside bar, closing within the previous candle’s range and failing to break the high.
➡️ This suggests consolidation, not rejection.
🧠 What it means:
✅ The break above multi-month highs signals strength and long-term bullish momentum.
✅ The inside bar can be viewed as a pause or healthy retest rather than weakness.
✅ Likely, price is accumulating orders before a new push higher.
📅 Weekly bias: bullish continuation
Here’s why:
The break and close above key structure is a big deal.
Consolidation after such a breakout is normal and often precedes continuation.
As long as price stays above the broken highs, the bias is firmly bullish.
🔔 What to watch next:
✅ A break and close above last week's high = strong bullish continuation signal.
🔁 A dip into the broken resistance (now support) + bullish rejection = a solid buy opportunity.
⚖️ There’s a price imbalance just below last week’s low, price could dip into it before taking off again.
💬 Final thoughts:
The long-term trend is shifting. This is not the time to fade strength, but rather to look for high-probability entries on pullbacks.
📢 If this breakdown helped you, don’t forget to boost the idea and follow for more weekly updates!
Let’s dive into some weekly price action on EUR/USD and uncover what the charts are really telling us. 📈
🔍 Key observations (weekly Chart):
Major breakout:
Two weeks ago, EUR/USD printed a strong bullish candle that broke and closed above a critical resistance zone, the July 2023 high and September 2024 high.
➡️ This marks a bullish structural shift on the higher timeframe.
Bullish inside bar:
Last week's candle was also bullish but formed an inside bar, closing within the previous candle’s range and failing to break the high.
➡️ This suggests consolidation, not rejection.
🧠 What it means:
✅ The break above multi-month highs signals strength and long-term bullish momentum.
✅ The inside bar can be viewed as a pause or healthy retest rather than weakness.
✅ Likely, price is accumulating orders before a new push higher.
📅 Weekly bias: bullish continuation
Here’s why:
The break and close above key structure is a big deal.
Consolidation after such a breakout is normal and often precedes continuation.
As long as price stays above the broken highs, the bias is firmly bullish.
🔔 What to watch next:
✅ A break and close above last week's high = strong bullish continuation signal.
🔁 A dip into the broken resistance (now support) + bullish rejection = a solid buy opportunity.
⚖️ There’s a price imbalance just below last week’s low, price could dip into it before taking off again.
💬 Final thoughts:
The long-term trend is shifting. This is not the time to fade strength, but rather to look for high-probability entries on pullbacks.
📢 If this breakdown helped you, don’t forget to boost the idea and follow for more weekly updates!
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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.
🔥Free Telegram Channel For Signals👇
t.me/+cJIWSM9RjvgyYzg0
t.me/+cJIWSM9RjvgyYzg0
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.