EURUSD The Strong Comeback of the Bulls
Hello everyone, whats your view on the current FX:EURUSD trend?
EURUSD is currently trading around 1.1761.177, having successfully held the key support zone at 1.141.15, which previously acted as a strong demand area. After a prolonged corrective phase, price is now forming a rounded bottom pattern, signaling that buying interest is gradually returning.
If price continues to hold above this base, the pair is likely to move higher toward the 1.1851.190 resistance zone. Beyond that, the psychological 1.200 level becomes a notable target should the bullish trend be confirmed.
With the U.S. dollar gradually weakening as expectations for Federal Reserve rate cuts remain in place, EURUSD is well-positioned to sustain its recovery. The preferred strategy is to look for buying opportunities on pullbacks to support, rather than chasing price at higher levels.
Do you think EURUSD is ready for a new bullish leg at the start of next year?
Feel free to share your thoughts!