HelenP. I Euro may correct to trend line and then rebound up

2 Mei

Hi folks today I'm prepared for you Gold analytics. After a sharp, impulsive rise, price entered a broad consolidation phase between 1.1575 and 1.1270 levels, creating a horizontal channel where price oscillated for several sessions. This type of structure often serves as a re-accumulation zone during a trending market. What's particularly notable is the recent touch of the lower boundary of the range, which coincided with a retest of both the ascending trend line and the support zone around 1.1270 points. This confluence of technical factors makes the current area critical for further price development. Following the bounce from the support zone, the pair is showing early signs of recovery. The trend line has held firmly, and buyers stepped in with a reaction candle confirming demand interest. While EUR is not yet out of the consolidation, the structure suggests strength and potential continuation. Given the alignment of the upward trend line, support zone validation, and stabilization after the drop, I expect that EURUSD may climb almost toward the upper boundary of the consolidation. That's why my current goal lies at 1.1500. If you like my analytics you may support me with your like/comment ❤️

3 Mei

Dagangan aktif

Euro declined to trend line, so, after this movement, I expect that EUR can turn around and start to move up.