EURUSD Bulls Take Control - 1.1940 as Next Test
Hello traders! Here’s my technical outlook on EURUSD (3H) based on the current chart structure. EURUSD previously traded within a well-defined ascending channel, where price consistently respected both the rising support line and the channel resistance, confirming steady bullish control and healthy trend conditions. During this phase, the market printed higher highs and higher lows, showing strong buyer dominance. However, after reaching the upper boundary of the channel, bullish momentum began to weaken, and price transitioned into a corrective phase. This correction unfolded gradually, signaling profit-taking rather than an immediate trend reversal. Following the pullback, EURUSD formed a rising triangle structure supported by a clear ascending support line. Price then broke impulsively to the upside, signaling a structural shift and renewed buying interest. This breakout pushed price above the Buyer Zone around 1.1860, confirming acceptance above previous resistance turned support. The bullish impulse extended into the Seller / Resistance Zone near 1.1940, where price is currently reacting. At this level, sellers have started to show interest again, and price is consolidating below the resistance, indicating hesitation and potential short-term exhaustion after the strong rally. Structurally, the Buyer Zone around 1.1840–1.1860 now acts as a key support area. As long as price holds above this zone and respects the rising triangle support line, the broader bullish structure remains intact. A sustained hold above support favors a continuation move toward the 1.1940 Resistance Level, which stands as the primary upside target (TP1). This level also represents a critical decision zone where either continuation or rejection is likely to occur. My scenario: holding above