EURUSD: Bullish Structure Holds - Market Eyes 1.1810 Resistance
Hello everyone, here is my breakdown of the current EURUSD setup.
Market Analysis
EURUSD is trading within a well-defined bullish structure after breaking out of a descending triangle formation, signaling a clear shift in control from sellers to buyers. The initial breakout was followed by a brief consolidation phase, where price formed a tight range, suggesting accumulation rather than distribution. After this pause, the pair continued higher and successfully broke above the triangle resistance line, confirming bullish continuation.
Currently, EURUSD is trading above a rising trend line, which continues to act as dynamic support. The market recently tested the Resistance Zone around 1.1810, where selling pressure appeared, leading to a short-term pullback. This retracement is now developing toward the Support Zone near 1.1760, which aligns with the previous breakout area and the ascending structure. As long as price holds above this support, the broader bullish trend remains intact and the pullback appears corrective.
My Scenario & Strategy
My primary scenario remains bullish while EURUSD holds above the 1.1760 Support Zone. I expect buyers to defend this area and push price higher for another attempt toward the 1.1810 Resistance Zone.
Therefore, a clean breakout and acceptance above resistance would confirm bullish continuation and open the way for further upside expansion. However, a decisive breakdown below support would weaken the structure and signal a deeper correction. For now, price action continues to favor buyers as long as the ascending structure holds.
That's the setup I'm tracking. Thank you for your attention, and always manage your risk.