EURUSD | Technical Outlook
Market Structure
EURUSD is currently trading around 1.1750, stabilizing after a volatile corrective move that followed a prior bullish phase. Price recently declined from the 1.1800+ region, finding support near 1.1720 – 1.1740 before attempting to consolidate.
The broader move from the 1.1450 – 1.1500 zone up toward 1.1800+ reflects strong bullish momentum on the H4 timeframe; however, recent price action shows a loss of momentum, with the pair entering a short-term corrective phase.
Key Resistance Zone
Immediate resistance is located at 1.1780 – 1.1820, supported by:
- Recent highs on H1 and H4
- Short-term supply zone
- Area of previous rejection
A breakout above this zone could lead to:
- 1.1850
- 1.1900 (key psychological resistance)
As long as price remains below 1.1820, upside momentum may stay limited in the short term.
Key Support Zone
Immediate support is seen at 1.1720 – 1.1700, which aligns with:
- Recent reaction lows
- Intraday demand zone
- Short-term structure support
A breakdown below this level would expose:
- 1.1650
- 1.1600 (key H4 support zone)
A sustained move below 1.1600 would signal a deeper shift in structure.
Expectations
Bullish Scenario (Primary)
If price holds above 1.1700, buyers may attempt to regain control.
A breakout above 1.1820 could trigger:
- A move toward 1.1850
- Extension toward 1.1900
This scenario would require renewed bullish momentum and stronger follow-through.
Bearish Scenario (Alternative)
Failure to hold above support may lead to continued downside pressure.
This could result in:
- A move back toward 1.1700
- A deeper decline toward 1.1650
A break below 1.1700 would confirm short-term bearish continuation.
Outlook
EURUSD is currently in a consolidation phase near the 1.1750 pivot zone, following a strong bullish move and subsequent correction. The structure remains neutral-to-bullish in the medium term, but short-term momentum has weakened.
A confirmed breakout above 1.1820 would restore bullish momentum, while a breakdown below 1.1700 could extend the corrective move before the next directional trend emerges.
