EURUSD has pushed sharply higher and is now testing an important resistance zone that has already rejected price several times.
The latest reaction shows that buyers are struggling to maintain momentum inside this area. Therefore, I expect price may consolidate briefly before moving lower toward the 1.1400 support level.
If EUR/USD forms a clear bearish rejection and remains below resistance, selling pressure could increase and strengthen the pullback scenario. However, if price breaks above the resistance zone with strong bullish momentum and holds above it, this bearish idea will no longer be valid.
This is only my personal view based on the chart, not financial advice. Always wait for confirmation and manage your risk appropriately.
The latest reaction shows that buyers are struggling to maintain momentum inside this area. Therefore, I expect price may consolidate briefly before moving lower toward the 1.1400 support level.
If EUR/USD forms a clear bearish rejection and remains below resistance, selling pressure could increase and strengthen the pullback scenario. However, if price breaks above the resistance zone with strong bullish momentum and holds above it, this bearish idea will no longer be valid.
This is only my personal view based on the chart, not financial advice. Always wait for confirmation and manage your risk appropriately.
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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.
Related publications
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.