Saad Ullah
The EUR/USD pair is displaying encouraging strength after finding solid footing above the 1.17 zone. With technical patterns aligning and broader macro factors providing tailwinds, the stage appears set for a potential upside breakout.
Current Market Structure
Market participants are now focused on whether this momentum can carry through and propel the pair toward the 1.19 area, a scenario recently highlighted by analyst B Trader.
On the daily timeframe, EUR/USD is currently trading around 1.1742, maintaining a solid position above its critical support base. The price action suggests that buyers have taken control of the narrative, though a tactical pullback may occur before the next leg higher unfolds. Should the 1.17 support zone continue to hold firm, the next logical upside target sits at 1.19–1.1920, where previous resistance levels converge and could be tested.
From a technical standpoint, the pair has established a robust foundation following earlier periods of volatility. The market appears to be coiling within this consolidation range, building the necessary energy for what chart patterns suggest could be a bullish continuation. The projected trajectory shows a favorable setup for upside momentum, provided key structural levels remain intact.
Key Levels to Monitor
Support zones: 1.1700 – 1.1720 Resistance targets: 1.1850 – 1.1920 Bearish invalidation: A decisive break below 1.1670 would undermine the bullish thesis and potentially trigger a deeper retracement.
EUR/USD maintains a constructive short-term bias, with a realistic shot at breaking toward 1.19 if buyers continue to defend current levels. Broader macro tailwinds, including softness in the U.S. dollar and stabilizing economic data from the Eurozone, provide fundamental support for the pair's positive outlook. Traders should watch for volume expansion and a clean break above 1.1850 to confirm the next phase of the rally.
Saad Ullah
