Usman Salis
The euro is making serious moves against the dollar, and traders are taking notice. After weeks of grinding action, EUR/USD finally punched through a stubborn resistance level that had been keeping bulls at bay. Now sitting around 1.17086, the pair looks primed for what could be its strongest run in months.
EUR/USD Price Breaks Free from Resistance Prison
The breakout above 1.16989 wasn't just any ordinary move - it was the kind of decisive action that gets traders' attention. This level had been acting like a ceiling, repeatedly pushing the euro back down whenever it tried to climb higher. But this time was different. The bulls came in with real conviction, smashing through that barrier and flipping it from resistance into what should now be support.
What makes this move even more interesting is where it leaves us. The pair is now eyeing that juicy order block zone above current levels, where institutional money likely sits waiting. If the momentum keeps up, we could see EUR/USD make a serious run toward the 1.1750-1.1800 area.
Technical Setup Points to More Upside
The chart tells a pretty clear story right now. That newly conquered 1.16989 level should now act as the first line of defense for bulls. Below that, there's additional backup support around 1.16650 and 1.16559 - that lower zone represents a fair value gap that could provide a solid foundation if we get any pullbacks.
Here's the thing about breakouts like this: they tend to have legs when they're backed by solid technical structure. And right now, EUR/USD has exactly that kind of setup. The bulls have room to run, and the technical picture suggests they might just take advantage of it.
Smart money will be watching for any dips back toward that 1.16650-1.16559 zone as potential buying opportunities. That's where risk-reward gets interesting, especially if the broader bullish momentum stays intact.
Usman Salis
