The EUR/USD hourly chart shows the pair currently trading near a key resistance zone around 1.1365, following a gradual upward movement that started from the strong support level at 1.1333.
The first red arrow on the chart suggests the possibility of a minor pullback toward the 1.1333 support area before a potential bullish continuation. This scenario indicates a potential buying opportunity if bullish price action confirms support at that level.
The second arrow points to a projected upside target near 1.15741, marking the next resistance zone. This level could serve as a take-profit area for buyers or a potential reversal point for the pair.
This technical setup highlights a “pullback before breakout” scenario, where watching the price behavior around the 1.1333 level is crucial. A break below this support would invalidate the bullish outlook, while holding above it increases the probability of an upward move toward 1.1574.
The first red arrow on the chart suggests the possibility of a minor pullback toward the 1.1333 support area before a potential bullish continuation. This scenario indicates a potential buying opportunity if bullish price action confirms support at that level.
The second arrow points to a projected upside target near 1.15741, marking the next resistance zone. This level could serve as a take-profit area for buyers or a potential reversal point for the pair.
This technical setup highlights a “pullback before breakout” scenario, where watching the price behavior around the 1.1333 level is crucial. A break below this support would invalidate the bullish outlook, while holding above it increases the probability of an upward move toward 1.1574.
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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.