Key Technical Zones:
Demand Zone: 0.9750 – 1.0350 (Support from Wave B low)
Supply Zone: 1.1600 – 1.2000 (Potential Wave C target)
Current Price: 1.0959
Support Levels: 1.0730, 1.0350
Resistance Levels: 1.1250, 1.1600
Outlook:
Bullish bias remains intact for Wave C as long as the pair holds above 1.0730. Any deeper pullback into the demand zone could still be part of a healthy correction, offering long opportunities on confirmation. Keep an eye on macroeconomic data, especially from the U.S. (FOMC, CPI) and EU (ECB stance), as they may heavily influence EUR/USD sentiment in the coming weeks.
Conclusion:
Watch for bullish continuation setups toward the supply zone, but remain cautious of a mid-term rejection pattern, which could trigger a deeper correction. Trade safely, and always use proper risk management.
Current Scenario:
Price is now trading near 1.0950, suggesting a potential Wave C rally in progress.
If Wave C unfolds as anticipated, EUR/USD could approach the supply zone marked between 1.1600–1.2000, which aligns with previous structural resistance and Fibonacci retracement levels.
However, a false breakout or early rejection from current levels could lead to a sharp retracement, possibly retesting the demand zone before any major upside continuation.
Demand Zone: 0.9750 – 1.0350 (Support from Wave B low)
Supply Zone: 1.1600 – 1.2000 (Potential Wave C target)
Current Price: 1.0959
Support Levels: 1.0730, 1.0350
Resistance Levels: 1.1250, 1.1600
Outlook:
Bullish bias remains intact for Wave C as long as the pair holds above 1.0730. Any deeper pullback into the demand zone could still be part of a healthy correction, offering long opportunities on confirmation. Keep an eye on macroeconomic data, especially from the U.S. (FOMC, CPI) and EU (ECB stance), as they may heavily influence EUR/USD sentiment in the coming weeks.
Conclusion:
Watch for bullish continuation setups toward the supply zone, but remain cautious of a mid-term rejection pattern, which could trigger a deeper correction. Trade safely, and always use proper risk management.
Current Scenario:
Price is now trading near 1.0950, suggesting a potential Wave C rally in progress.
If Wave C unfolds as anticipated, EUR/USD could approach the supply zone marked between 1.1600–1.2000, which aligns with previous structural resistance and Fibonacci retracement levels.
However, a false breakout or early rejection from current levels could lead to a sharp retracement, possibly retesting the demand zone before any major upside continuation.
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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.