Usman Salis
EUR/USD just pulled off an impressive recovery that has bulls feeling confident again. After testing the lower edge of its rising channel, the pair bounced back with conviction, closing last week around 1.1690.
Key Levels to Watch:
According to analyst Kurtuluş Beyazhan | AltınVe, this rebound proves the bullish structure is still alive and kicking.
- Immediate resistance: 1.1734 (the make-or-break level)
- Bullish target: 1.21 (upper channel boundary)
- Critical support: 1.16 (don't break this)
The setup is pretty straightforward right now. Bulls need to punch through 1.1734 to unlock the real fireworks. If they pull it off, we could see EUR/USD march toward 1.21 where the channel's upper edge sits. That's serious upside potential from current levels.
What Could Go Wrong
But here's the thing - this whole bullish story only works if the pair stays inside its rising channel. The moment we see a clean break below 1.16 support, all bets are off and sellers could pile back in. For now though, the technical picture looks solid and momentum is clearly shifting back toward the bulls. The next few sessions will tell us whether this bounce has real legs or if it's just another false start.
Usman Salis
