EURUSD | Daily Technical Outlook
Market Structure
EURUSD is currently trading in a corrective consolidation phase following a sharp bullish impulse earlier in the trend. After peaking near the 1.2050 region, price faced strong rejection and entered a pullback, breaking below short-term bullish structure and shifting into a neutral-to-bearish correction.
Across the Daily and H4 timeframes, the broader trend remains constructive, but momentum has clearly weakened. Price is now stabilizing above the 1.1780 – 1.1800 zone, which is acting as a key equilibrium area. Lower timeframes (H1 and M15) show choppy price action, reflecting indecision between buyers and sellers.
Key Resistance Zone
Immediate resistance is located at 1.1820 – 1.1850, where multiple rejection wicks and moving average resistance are aligned.
Additional resistance levels:
- 1.1900
- 1.1980 – 1.2000 (major bullish continuation barrier)
As long as EURUSD remains capped below 1.1850, upside momentum remains limited and vulnerable to renewed selling pressure.
Key Support Zone
Primary support is holding at 1.1780 – 1.1800, which has repeatedly prevented further downside extension.
A breakdown below this zone would expose lower support levels:
- 1.1720
- 1.1650 – 1.1680 (major structural support)
Failure to hold above 1.1650 would signal a deeper corrective phase within the broader trend.
Expectations
Bearish Scenario (Primary)
As long as price trades below 1.1850, the risk remains tilted to the downside.
A confirmed break below 1.1780 could accelerate selling toward 1.1720, with scope to extend toward 1.1650.
Bullish Scenario (Alternative)
A sustained recovery above 1.1850 would signal renewed bullish interest, opening the door toward:
- 1.1900
- 1.1980 – 1.2000
A reclaim of the 1.2000 handle would be required to restore strong bullish momentum.
Outlook
EURUSD is currently at a critical decision zone, with price consolidating after a strong bullish leg. The structure remains neutral-to-bearish in the short term while below 1.1850, with downside risks increasing on a break of 1.1780. A bullish continuation scenario only strengthens if price reclaims higher resistance levels decisively.
