EURUSD is moving within a clearly defined bullish channel, with price action consistently reacting accurately at both the upper and lower boundaries. This momentum suggests that buyers are in control, setting the stage for further upside.The price recently broke above a key resistance zone and is now returning to retest this area, a familiar move before further upside if the trend is indeed solid. If this zone holds as support, the upside could continue to push towards the 1.18000 target, which makes sense based on this setup.
However, failure to hold this level could invalidate the bullish scenario and increase the likelihood of a deeper pullback.
Therefore, traders should closely observe the price reaction and look for clear confirmation before entering a trade. And as always, always trade with a clear strategy and strict risk management.
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