EURUSD SWING TRADE IDEAEuro/US DollarFX:EURUSDECOINFXMarket Structure I’ve been tracking the EUR/USD rally, but price is now pressing into the 1.17–1.18 zone, which is a major supply and resistance area where it has sold off hard before. This level also lines up with the 75 percent Fibonacci retracement at 1.176, which adds weight to the setup. Unless buyers manage to break and sustain above 1.18, I expect a reversal or corrective phase to take shape here. Key Levels For resistance, I’m focused on 1.1740–1.1785 as my immediate supply zone, with the next ceiling at 1.1820–1.1920 if bulls push higher. On the downside, I’ve mapped out clear target levels: TP1 at 1.1410–1.1395, which aligns with the 61.8 percent Fibonacci retracement, TP2 at 1.1050–1.1006, a clean structural midpoint, and TP3 at 1.0700, a deeper retracement and strong demand zone. If the correction extends further, I’m prepared for price to retest 1.0340–1.00 (parity). Bias and Scenarios My bias here is bearish. I’m looking to short from the current 1.17–1.18 resistance zone with my risk defined above 1.1820. If price sustains above that level, I’ll consider the bearish scenario invalid and flip to a bullish outlook targeting 1.20–1.25 instead. Risk Factors I’m keeping a close eye on the Dollar Index, since USD strength or weakness will heavily dictate follow-through. I’m also watching central bank policy tone — divergence between the ECB and the Fed could tip the balance either way. Finally, I’m cautious of a liquidity grab above 1.18 before the market makes a decisive move lower. 👉 In summary, I see this as a high-probability swing short with clear downside targets and a well-defined invalidation point.