EURUSD | Technical Outlook
Market Structure
EURUSD is currently trading around 1.1685, stabilizing after a bearish move that followed a prior bullish phase from higher levels. Price recently declined from the 1.1780 – 1.1800 region, finding temporary support near 1.1670 – 1.1690 as it attempts 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 clear loss of momentum, with the pair shifting into a corrective bearish phase.
Key Resistance Zone
Immediate resistance is located at 1.1710 – 1.1740, supported by:
- Recent lower highs on H1 and H4
- Short-term supply zone
- Confluence with moving averages
A breakout above this zone could lead to:
- 1.1780
- 1.1820 (key resistance area)
As long as price remains below 1.1740, upside attempts may face selling pressure.
Key Support Zone
Immediate support is seen at 1.1670 – 1.1650, which aligns with:
- Recent intraday lows
- Demand zone on lower timeframes
- Psychological support level
A breakdown below this level would expose:
- 1.1620
- 1.1580 (key H4 support)
A sustained move below 1.1580 would further weaken the broader bullish structure.
Expectations
Bearish Scenario (Primary)
As long as price remains below 1.1740, sellers are likely to maintain control.
A breakdown below 1.1670 could trigger:
- A move toward 1.1650
- Extension toward 1.1620
The current structure favors continued downside correction.
Bullish Scenario (Alternative)
If price holds above 1.1650, buyers may attempt a recovery.
A breakout above 1.1740 could lead to:
- A move toward 1.1780
- Further upside toward 1.1820
This would signal a potential shift back to bullish momentum.
Outlook
EURUSD remains under short-term bearish pressure, trading near the 1.1680 pivot zone after rejecting higher levels. Momentum has weakened, indicating a corrective phase within the broader uptrend.
A confirmed break below support would reinforce further downside, while a recovery above resistance could revive bullish continuation.
