FX.co ★ vadlamudi | EUR/USD

EURUSD Long: Buyers Step In at 1.1460 — Can Price Reach 1.1540?

Hello traders! Here’s my technical outlook based on the current EURUSD (1H) chart structure. EURUSD previously traded inside a descending channel and range before breaking lower and testing the Demand Zone. Price then bounced from the 1.1460 Demand Zone, showing signs of buyers stepping in. Currently, EURUSD is trading below the 1.1540 Supply Zone while holding above the 1.1460 Demand Zone. The recent bounce from support suggests buyers are preparing for another move higher. As long as EURUSD remains above 1.1460 and respects the current support structure, the bullish scenario remains valid. A continuation higher could target 1.1540 (TP1). However, a break below 1.1460 would weaken the bullish outlook. Manage your risk!