After the previous strong rally, EURUSD has entered a consolidation phase just above the ascending trendline. Although the upward momentum has slowed, price continues to hold this dynamic support, showing that buyers have not yet left the market and the short-term bullish structure remains intact.

What stands out is that each pullback quickly attracts buying interest around the trendline, while sellers have still failed to produce a decisive breakdown strong enough to change the current structure. This suggests that selling pressure is gradually weakening, while buyers continue to defend this important price area.

If the trendline continues to hold during the upcoming tests, I expect EURUSD to resume its upward move toward the 1.1569 resistance level. However, for the bullish trend to gain stronger confirmation, price still needs a decisive breakout above this barrier. On the other hand, if the trendline is broken, the current bullish structure will weaken and the risk of a deeper correction will increase.

This is only my personal view based on technical analysis. Wishing you successful trading!