On the daily chart, the EUR/USD pair shows a clear bullish bias in the long term, backed by strong upward momentum in recent sessions.
🔹 Price Action Overview:
Last week, EUR/USD printed a strong impulsive move to the upside, indicating increased bullish interest and potential trend continuation. This momentum suggests that the bulls are firmly in control, at least for now.
🔹 What to Expect Next:
With the impulsive leg completed, we are now anticipating a short-term retracement. Price is likely to pull back into a key demand zone, previously acting as resistance, and now potentially flipping into support.
I've marked this retracement zone with a green circle on the chart, aligning with the price range:
📍 Key Trade Levels:
Buy Entry Zone: 1.15900 – 1.16100
(Expecting price to react at this former resistance turned support)
Stop Loss: 1.15400
(Below recent swing low to protect against invalidation)
Take Profit: 1.17300
(Targeting the next significant resistance area)
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🧠 Trade Idea Summary:
This setup follows the classic "impulse–retracement–continuation" structure. As long as price holds above the retracement zone, we maintain a bullish outlook for EUR/USD.
🔔 Watch for bullish price action (e.g., pin bars, engulfing candles) within the buy zone before entering for confirmation.
🔹 Price Action Overview:
Last week, EUR/USD printed a strong impulsive move to the upside, indicating increased bullish interest and potential trend continuation. This momentum suggests that the bulls are firmly in control, at least for now.
🔹 What to Expect Next:
With the impulsive leg completed, we are now anticipating a short-term retracement. Price is likely to pull back into a key demand zone, previously acting as resistance, and now potentially flipping into support.
I've marked this retracement zone with a green circle on the chart, aligning with the price range:
📍 Key Trade Levels:
Buy Entry Zone: 1.15900 – 1.16100
(Expecting price to react at this former resistance turned support)
Stop Loss: 1.15400
(Below recent swing low to protect against invalidation)
Take Profit: 1.17300
(Targeting the next significant resistance area)
---
🧠 Trade Idea Summary:
This setup follows the classic "impulse–retracement–continuation" structure. As long as price holds above the retracement zone, we maintain a bullish outlook for EUR/USD.
🔔 Watch for bullish price action (e.g., pin bars, engulfing candles) within the buy zone before entering for confirmation.
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.
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.