EURUSD: Bullish Setup After Corrective Channel PullbackEuro / U.S. DollarFOREXCOM:EURUSDRatnerHello everyone, here is my breakdown of the current EURUSD setup. Market Analysis EURUSD is trading within a broader bullish structure, supported by a rising trend line that has guided price action from the recent swing lows. Earlier in the move, price formed a clear accumulation range, where the market consolidated before initiating an upside breakout. This breakout was followed by continuation to the upside, confirming strong buyer participation and a bullish shift in market control. After the impulsive move higher, EURUSD entered a corrective phase, forming a well-defined descending channel. This pullback appears corrective rather than impulsive, as price action remains orderly with overlapping candles and decreasing momentum — a typical bullish retracement behavior. Importantly, this correction is occurring above the higher-timeframe ascending trend line, preserving the overall bullish structure. Currently, price is reacting from the Support Zone around 1.1600–1.1620, which aligns with: The lower boundary of the descending channel. A key horizontal support level. The rising trend line from prior lows. This confluence increases the probability of buyers stepping in. On the upside, the Resistance Zone near 1.1680 represents the prior breakout level and the top of the corrective structure. A successful reclaim of this zone would confirm the end of the correction and signal bullish continuation. My Scenario & Strategy My primary scenario remains bullish as long as EURUSD holds above the 1.1600 Support Zone and respects the rising trend line. I expect buyers to defend this area and attempt a push higher toward the 1.1680 Resistance Level (TP1). A clean breakout and acceptance above 1.1680 would confirm bullish continuation and open the path toward higher targets. However, a decisive breakdown below the support zone and trend line would weaken the bullish structure and suggest a deeper corrective move or potential range formation. For now, structure favors buyers while price holds above support. As always, manage your risk and wait for confirmation at key levels. That’s the setup I’m tracking. Thank you for your attention, and always manage your risk.