Hello Traders! 👋

What are your thoughts on EURUSD?

EUR/USD has confirmed a bullish shift after breaking above the descending trendline, signaling that the broader corrective phase may be coming to an end. The recent rally has now brought price into a key resistance area, which aligns with the 0.50–0.618 Fibonacci retracement zone.

From a technical perspective, this resistance could trigger a short-term pullback before the next leg higher. The preferred scenario is for price to retrace toward the highlighted support zone, where buyers may step back into the market. As long as price remains above this support area, the bullish outlook stays intact, and the correction would be viewed as a healthy retracement within a developing uptrend.

A successful reaction from the support zone could provide the momentum needed for another bullish impulse, opening the way toward higher upside targets in the coming sessions.

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