EURUSD Coiling pattern, energy build up support at 1.1520EUR/USD Technical Analysis
Trend Overview:
EUR/USD continues to exhibit bullish price action, supported by a rising trend structure. The recent intraday movement shows signs of sideways consolidation, suggesting a potential continuation pattern rather than reversal.
Key Support Level:
1.1520 – Marks the lower boundary of the previous consolidation range and serves as a critical pivot for directional bias.
Bullish Scenario (Primary Bias):
A corrective pullback into the 1.1520 zone followed by a bullish reversal would confirm continued upward momentum.
Upside targets include:
1.1664 – Near-term resistance.
1.1723 – Mid-term target.
1.1780 – Long-term resistance aligned with prior highs.
Bearish Scenario (Invalidation):
A decisive break and daily close below 1.1520 would invalidate the current bullish outlook.
This would signal a shift toward a deeper correction, targeting:
1.1460 – Initial retracement level.
1.1345 – Major support zone on a broader timeframe.
Conclusion:
The broader trend in EUR/USD remains bullish, with the 1.1520 level acting as a key support threshold. A bounce from this level would support continued upside movement toward 1.1780. However, a confirmed break below 1.1520 would shift momentum to the downside and expose the pair to a deeper retracement.
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