Saad Ullah
⬤ EUR/USD is hovering around 1.1719 after pulling back from recent highs, and traders are watching closely to see if a key support zone will hold. The pair has retreated into what's called a Fair Value Gap on the daily chart—basically an area where price moved so quickly it left behind an imbalance. If that zone acts as a floor, the currency pair could bounce and push toward 1.19 over time. Right now, it's all about whether buyers step in at this level or if sellers push things lower.
⬤ The chart shows a pretty clear story. After hitting lows earlier in the cycle, EUR/USD shifted structure and began trending higher. But nothing goes straight up forever, and the pair has now pulled back into the mid-1.16 zone where that Fair Value Gap sits. "The daily FVG can act as support and stabilize price before a possible continuation higher," according to the analysis. If that plays out, the roadmap suggests a staged recovery—first stabilizing, then grinding back above current levels, and eventually targeting the 1.1919 area.
⬤ This isn't based on big economic headlines or central bank drama. It's pure price structure—watching how the market reacts at specific levels. The whole idea hinges on whether that support zone does its job. If EUR/USD holds above it, the bullish case stays intact and the path toward 1.19 remains open. If it breaks down instead, traders will need to reset expectations and look at lower levels. For now, that Fair Value Gap is the line in the sand everyone's watching to see if this uptrend has more room to run.
Saad Ullah
