FX.co ★ berta.hill | EUR/USD

The movement of the EUR/USD currency pair still shows a bullish tendency on the major timeframe, although in recent sessions there have been signs of weakening in the upward momentum. After successfully recording a significant strengthening in the past few weeks, prices are now facing a strong challenge in the 1.16000 resistance area. This level has once again become a major obstacle for the continuation of the uptrend as buying pressure, which previously dominated, is starting to lose some of its strength as it approaches that zone. In recent trading, prices seem unable to sustain the previous bullish acceleration. Failure to break through the key resistance area of 1.16000 has led market participants to start taking profits, triggering short-term selling pressure. This condition causes price movements to slow down and enter a consolidation phase after a fairly long rally. This situation indicates that the market is seeking a new balance before determining the next direction of movement. When observed on the minor timeframe, bearish pressure is becoming more apparent. Selling pressure is currently trying to dominate after prices were once again held back at the minor resistance area of 1.16150. The rejection at that level indicates that buying interest is not strong enough to push prices higher aggressively. As a result, sellers are starting to utilize high price areas to initiate selling pressure that could trigger a short-term correction. Bearish pressure on the minor timeframe is also evident from the limited ability of buyers to maintain positions near the peak area. Every attempt to rise towards the 1.16150 level still faces significant selling pressure, causing prices to move down several times. As long as this level remains a minor resistance, the potential for a correction towards the nearest support area remains wide open. This indicates that although the main trend is still bullish, short-term movements are in an adjustment or healthy correction phase. However, looking at the overall trend structure, especially on the daily timeframe, bullish dominance is still relatively intact. Prices are still moving in a pattern of higher highs and higher lows, which are the main characteristics of an uptrend. As long as key supports can be maintained, the opportunity to continue strengthening remains greater than the possibility of a full trend reversal. From a technical perspective, the current correction can be considered a normal part of the ongoing bullish trend. The market often needs a temporary downward phase to gather buying strength before continuing the rise to the next target. Therefore, the bearish pressure on the minor timeframe is not yet strong enough to change the bullish structure established on the major timeframe. The next target for an increase is still in the 1.16800 resistance area. This level is the main target if buyers regain control of the market and push prices above the current resistance levels. A valid breakthrough above the minor resistance at 1.16150 could be an initial signal that bullish momentum is strengthening. If this condition occurs, the opportunity for movement towards 1.16800 will increase. On the other hand, if prices continue to fail to break the minor resistance at 1.16150 in the next few trading sessions, then bearish correction could continue towards the nearest support area. Persistent selling pressure below that level could trigger a temporary decline as a retracement before the market determines its next direction. The nearest support area will be a crucial point to watch as it could be where new buying interest emerges. Overall, the EUR/USD is still in a bullish trend on the major timeframe despite the weakening momentum after being held back at the 1.16000 and 1.16150 resistance levels. In the short term, bearish pressure may still dominate and lead to a correction towards the nearest support. However, as long as the bullish structure on the daily timeframe remains intact, the opportunity for an increase towards the 1.16800 target remains the main scenario with higher potential in the medium to long term.