Victoria Bazir
⬤ EUR/USD keeps hanging on above an important support zone on the daily chart after printing a nice bullish candle that's got the pair sitting steady near 1.17695. The chart marks out a shaded "key level" zone that price just climbed back above and is now defending. This move is part of a bigger picture where that bullish daily close has traders leaning positive for now.
⬤ Looking at the chart, you can see EUR/USD fired off a strong push higher that brought it back above that marked support area. Since then, candles have been sticking above the shaded zone, which tells us buyers are stepping in to protect this level. There's a reference point labeled "Draw" sitting around 1.18077 – that's the next upside target if support keeps doing its job. The latest candle closed bullish inside this structure, backing up the idea that there's short-term upside potential as long as EUR/USD stays above the highlighted zone.
⬤ That shaded band you see represents the key technical level that's been tested multiple times. Price dipped into it a few times but bounced back each time, keeping the overall structure alive. The daily framework combined with that bullish candle closure is what's driving the positive outlook right now. EUR/USD hasn't made a serious run at the 1.18077 level yet, but staying above support means there's room for more upside if momentum picks up.
⬤ This matters because EUR/USD is one of the biggest pairs traders watch worldwide, and when it shifts direction, it ripples through sentiment on both the euro and the dollar. Right now, with EUR/USD holding above a clear key level and showing a solid daily close, the question is whether support continues to hold and the pair can grind toward that 1.18077 reference point, or if we'll see more sideways action if the upward push loses steam.
Victoria Bazir
