Peter Smith
The Euro to U.S. Dollar (EUR/USD) currency pair is showing signs of renewed bullish momentum, closing in on a key resistance area as traders prepare for the week ahead. The pair currently hovering around 1.1775, this question couldn't be more relevant.
EUR/USD Price Action and Technical Setup
According to the 4-hour chart shared on TradingView, EUR/USD has steadily climbed from the 1.1540s to a current level of 1.17752. The chart reveals a sequence of higher highs and higher lows, indicating bullish structure. After a slight retracement from the 1.1840 peak, the pair is consolidating below the psychological 1.1800 level, suggesting a potential breakout setup.
Support can be observed around the 1.1720–1.1740 range, while a successful close above 1.1800 could open the door toward 1.1850 and higher levels. Traders will be watching next week's macroeconomic releases and ECB rhetoric closely.
Market Sentiment: Buy or Sell Next Week?
With the euro supported by improving Eurozone data and a weaker dollar backdrop, bullish sentiment seems to be building. However, volume and momentum divergence may suggest caution in the short term. The reaction near the 1.1800 zone will be crucial in determining whether the trend continues or a deeper pullback emerges.
Conclusion
With EUR/USD trading at 1.1775 and flirting with a key resistance level, next week could be decisive. Whether you're buying or selling, the 1.1800 mark is the level to watch. Traders would be wise to keep an eye on fundamentals and momentum signals to catch the next big move in this major FX pair.
Peter Smith
