EURUSD Bulls Pressure!
Market Analysis: Daily Timeframe
I’m observing an interesting price action on the Daily timeframe. The market is currently bouncing off the support zone around **1.0298**, which had previously acted as resistance. This could indicate potential bullish momentum ahead.
Bullish Scenario:
- If the bulls maintain control, the next key resistance to watch is **1.0345**.
- A break above this level could push the price further towards **1.0390**.
- My target would be a potential run towards the **1.0400** resistance level.
### Bearish Scenario:
- On the other hand, if we see a **close below 1.0258**, I’d expect the bears to take charge.
- A close below this level could lead the price towards the next support around **1.0241**.
- If the selling pressure continues, we could see a further dip towards **1.0190**.
For now, I’m focused on the potential for a bullish run towards **1.0400**, but I'll be closely watching for any bearish signals below **1.0258**.
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This structured post clearly outlines both the bullish and bearish scenarios with the key levels you're watching. Let me know if you'd like to adjust anything further!
I’m observing an interesting price action on the Daily timeframe. The market is currently bouncing off the support zone around **1.0298**, which had previously acted as resistance. This could indicate potential bullish momentum ahead.
Bullish Scenario:
- If the bulls maintain control, the next key resistance to watch is **1.0345**.
- A break above this level could push the price further towards **1.0390**.
- My target would be a potential run towards the **1.0400** resistance level.
### Bearish Scenario:
- On the other hand, if we see a **close below 1.0258**, I’d expect the bears to take charge.
- A close below this level could lead the price towards the next support around **1.0241**.
- If the selling pressure continues, we could see a further dip towards **1.0190**.
For now, I’m focused on the potential for a bullish run towards **1.0400**, but I'll be closely watching for any bearish signals below **1.0258**.
---
This structured post clearly outlines both the bullish and bearish scenarios with the key levels you're watching. Let me know if you'd like to adjust anything further!
Trade closed: target reached
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.