Peter Smith
EURUSD is at a crossroads. Trading at 1.1771, the pair is consolidating after recent gains while sitting just above a critical support zone.
Key Levels to Watch:
Trader B Trader's latest analysis suggests we might see a classic liquidity sweep play out - a quick drop to shake out weak hands before the real move higher begins.
- Support Zone: 1.1750-1.1755 (the grey demand block that's been holding)
- Current Price: 1.1771 (consolidation mode)
- Bullish Target: 1.1790 (next major resistance)
- Bearish Risk: Break below 1.1750 opens door to 1.1735
The Setup
The 15-minute chart tells a clear story. EURUSD looks ready to test that 1.1750-1.1755 demand zone one more time before potentially launching toward 1.1790. This isn't unusual - it's textbook price action where smart money lets retail panic sell before stepping in. The grey demand block on the chart has been solid support, and as long as it holds, the bulls stay in control.
The euro's fate hinges on two main drivers right now. First, the European Central Bank's policy signals continue to influence sentiment, especially with inflation data still coming in hot across the eurozone. Second, U.S. economic releases keep throwing curveballs - any surprise in employment or inflation numbers could spark serious volatility in this pair.
Peter Smith
