Alright, fam, let’s break this down. EUR/USD has been on a strong bullish run, pushing up to key weekly resistance at 1.0940. We’ve had a clean breakout of structure, with price consistently respecting the 21 EMA and staying above the 200-day moving average. Bulls have been in full control, but now we’re at a level where we need to watch closely—are we about to see a breakout continuation or a reversal?
Right now, I’m watching 1.0940 - 1.0950 very closely. If price rejects this level with a strong bearish engulfing candle or wick rejections, we could see a pullback back to the 1.0710 level, possibly even lower to 1.0523. However, if buyers break and hold above 1.0950, then we’re looking at potential continuation toward 1.10+ in the coming days.
📌 Potential Trade Setup:
SHORT if we reject 1.0940 with bearish confirmation; TP1: 1.0710, TP2: 1.0523.
LONG if we break & close above 1.0950; TP1: 1.10+
👀 Keep your eyes peeled, manage risk, and let’s see what price does next!
Right now, I’m watching 1.0940 - 1.0950 very closely. If price rejects this level with a strong bearish engulfing candle or wick rejections, we could see a pullback back to the 1.0710 level, possibly even lower to 1.0523. However, if buyers break and hold above 1.0950, then we’re looking at potential continuation toward 1.10+ in the coming days.
📌 Potential Trade Setup:
SHORT if we reject 1.0940 with bearish confirmation; TP1: 1.0710, TP2: 1.0523.
LONG if we break & close above 1.0950; TP1: 1.10+
👀 Keep your eyes peeled, manage risk, and let’s see what price does next!
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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.