EURUSD - EXPECTING UPSIDE AFTER BREAKOUT OF RESISTANCE

Feb 12

Symbol - EURUSD

CMP 1.0360

EURUSD is attempting to capitalize on the recent correction in the U.S. dollar. The price is currently undergoing a retest of consolidation resistance, aiming for a potential breakout and further upward movement. Following an initial attempt to breach the downtrend resistance, the price entered a consolidation phase, establishing a range between 1.0530 and 1.0210. Within this setup, a local consolidation channel has formed, with the price testing the resistance at 1.0380 The market is still in the process of confirming a trend reversal and seeking to strengthen in the context of the dollar's correction.

The fundamental landscape remains complex, influenced by the Trump's ongoing tariff dispute and the broader economic crisis.

Resistance Levels: 1.0380, 1.0530
Support Levels: 1.0330, 1.0210

A breakout above the 1.0380 resistance level, followed by price consolidation above this area, could signal further growth, driven by the distribution of the accumulated potential.

Feb 13

Trade active

Breakout happened. Long position active.

Feb 14

Note

CMP 1.0460

Long position +82 pips in profit.
Holding with CTC SL now.

Feb 15

Trade closed: target reached

CMP 1.0512

First target reached.
+152 pips profit.

Feb 17

Note

EURUSD gained 2% last week, surpassing 1.0500 level amid uncertainty surrounding Trump's trade tariffs. Although the new tariff executive order has already been signed, its details remain unclear, making markets hesitant.
The technical picture is mixed; on the weekly chart, the euro remains under key moving averages, but on the daily chart, the bulls have gained support. The market is focused on the new steps of the US to impose retaliatory tariffs

The focus is on support at 1.0460 and resistance at 1.0530, A false break of the lower level or a break of the upper level could trigger a rise.