Hello everyone, here is my breakdown of the current EURUSD setup.

Market Analysis

EURUSD previously traded inside a descending channel before breaking above the upper trendline, confirming a bullish shift in market structure. After the breakout, price formed an ascending channel and reclaimed the 1.1500 Support Zone, showing that buyers regained control.

Currently, EURUSD is trading above the 1.1500 Support Zone while remaining below the 1.1620 Resistance Zone. The latest pullback appears corrective, with buyers continuing to defend the rising channel.

My Scenario & Strategy

As long as EURUSD holds above the 1.1500 Support Zone and remains inside the ascending channel, the bullish scenario remains valid. A rebound from current levels could push price toward the 1.1620 Resistance Zone (TP1).

However, a break below the 1.1500 Support Zone would weaken the bullish outlook and increase the risk of a deeper correction.

That’s the setup I’m tracking. Thank you for your attention, and always manage your risk.