EURUSD | Technical Outlook
Market Structure
EURUSD is currently trading around 1.1755, stabilizing after a bearish pullback that followed a failed attempt to hold above a recent consolidation range. Price recently declined from the 1.1780 – 1.1800 region, breaking lower and approaching key intraday support.
The move from the 1.1650 – 1.1680 zone up toward 1.1800+ reflects a prior bullish recovery on the H4 timeframe; however, recent price action indicates weakening momentum and a shift toward short-term bearish pressure.
Key Resistance Zone
Immediate resistance is located at 1.1775 – 1.1800, supported by:
- Recent breakdown zone
- Intraday supply area
- Confluence with moving averages
A breakout above this zone could lead to:
- 1.1830
- 1.1860 (higher timeframe resistance)
As long as price remains below 1.1800, upside attempts may face selling pressure.
Key Support Zone
Immediate support is seen at 1.1740 – 1.1720, which aligns with:
- Recent swing lows
- Short-term demand zone
- Intraday structure support
A breakdown below this level would expose:
- 1.1680
- 1.1650 (key H4 support)
A sustained move below 1.1650 would weaken the broader recovery structure.
Expectations
Bullish Scenario (Alternative)
If price reclaims 1.1775, buyers may attempt to regain control.
A breakout above 1.1800 could trigger:
- A move toward 1.1830
- Extension toward 1.1860
However, bullish continuation requires a confirmed reversal above resistance.
Bearish Scenario (Primary)
Failure to hold above current levels may extend the downside move.
This could result in:
- A move toward 1.1720
- A deeper decline toward 1.1680
A break below 1.1740 would confirm continued bearish pressure.
Outlook
EURUSD is showing early signs of weakness after rejecting higher levels, currently trading near the 1.1750 pivot zone. Momentum has shifted slightly bearish in the short term.
A sustained move below 1.1740 would reinforce downside continuation, while recovery above 1.1800 is required to restore bullish momentum.
