EURUSD| Daily Technical Outlook
Market Structure
EURUSD is showing a firm bullish resurgence after several weeks of sideways and corrective trading. Recent candles display strong upward momentum, with price breaking above short-term consolidation and pushing into a fresh local high near $1.1628.
This upward break suggests that buyers are regaining control, supported by consistent higher lows forming across recent sessions. The broader structure still carries remnants of previous weakness, but the current impulse signals a shift toward renewed bullish pressure.
Key Resistance Zone
Price is now testing the $1.1630 – $1.1650 resistance area — a level that previously acted as a turning point during the mid-October decline.
A convincing breakout above $1.1650 would signal continuation and open the door toward:
- $1.1685 (initial upside target)
- $1.1720 – $1.1740 (extended bullish target)
Failure to clear $1.1650 on the first attempt may lead to intraday pullbacks before buyers regroup.
Key Support Zone
The nearest support sits at $1.1580 – $1.1600, a zone where price consolidated before the breakout.
Additional support areas include:
- $1.1550
- $1.1500 – $1.1515 (major swing support)
As long as EURUSD holds above $1.1580, the bullish structure remains intact.
A break below $1.1550 would indicate loss of momentum and could trigger a deeper pullback.
Expectations
Bullish Scenario (Primary)
Holding above $1.1580 keeps EURUSD positioned for further upside.
A breakout above $1.1650 would likely extend the move toward $1.1685, with potential continuation to $1.1720 – $1.1740 if bullish momentum strengthens.
Bearish Scenario (Alternative)
A decline below $1.1580 would signal fading buyer strength and could drag price toward:
- $1.1550
- $1.1500 -$1.1515
Only a break beneath $1.1500 would threaten the emerging bullish reversal.
Outlook
EURUSD shows a clear bullish tone, supported by momentum and fresh structural highs. Today’s focus is on whether price can sustain gains above $1.1630 and break the key resistance at $1.1650. A successful breakout would confirm continuation toward new weekly highs, while failure could lead to a mild corrective pullback before another attempt higher.
