FX.co ★ berta.hill | EUR/USD

Hello traders, EURUSD is at 1.1679. It's no longer about "will the growth start or not". It's already happening. The daily chart is neatly turning upwards. The price has returned above the moving averages, the fast moving averages have crossed, but the 1.18-1.182 zone still acts as overhead resistance. This is the ceiling that needs to be broken for a full-fledged trend to be confirmed. The picture on H4 is clearer. The descending channel has been broken, and now we are already working above it. This means that the market has changed its structure and is trying to establish itself higher. As long as the zone of 1.1626-1.164 holds, the upward scenario remains the base case. H1 and M15 are overbought. The momentum is strong but already stretched. Candles are accelerating, RSI is approaching overbought levels. This is not the point to enter new long positions; it's a stage where pullbacks are more likely before a continuation. The nearest target is obvious - 1.17-1.172. The market is likely to reach there, the question is only whether with a pullback or without. Now, here's the important part. If selling pressure emerges around 1.17 and the price drops below 1.1660, we will see a quick pullback back to 1.1626. However, if the price holds above and digests the level, then the path to 1.176 and further to the 1.18 zone will open up. Currently, it's a bullish market, but not at a phase where it's convenient to enter from scratch. The logic is simple: either wait for a pullback or refrain from entering altogether. The key zone below is 1.1626. As long as we are above it, the upward structure remains intact. Below that level, the whole idea falls apart. And yes, everything here is also happening in the moment.