"EUR/USD Technical Blueprint: Bullish Continuation EUR/USDOANDA:EURUSDMentor_Michael03EUR/USD Technical Blueprint: Bullish Continuation Patterns and Strategic Price Zones Explained 🔹 Market Structure & Trend The chart shows a clear shift from a ranging phase into a bullish breakout: Price previously consolidated in a broad horizontal channel, with a strong demand zone (support) established between 1.16000 – 1.16600. Following a deep liquidity grab on July 17-18, the price bounced sharply from support, creating higher highs and higher lows – a classic bullish structure. Current momentum shows bullish continuation, as the price broke above local resistance around 1.16645 and is now forming a potential bull flag or bullish pennant pattern. 🟢 Bullish Momentum Confirmation Price is currently retesting the broken resistance (now acting as support at 1.16645). If the support holds and bullish momentum continues, the measured move target projects a price move toward 1.17331, the next significant resistance level. This is also supported by increased volume activity in the breakout zone, as seen on the VPVR. 📊 Key Technical Levels LevelTypeDescription 1.16000Major SupportHistorical demand zone + liquidity grab 1.16645Support ZonePrevious resistance, now retest area 1.16926Current PriceBullish consolidation forming 1.17331ResistanceBullish target based on breakout projection 1.17700+ExtensionPotential continuation level if momentum persists 🧠 Volume & Volatility Insight Bollinger Bands are expanding post-breakout, indicating increasing volatility and a potential trend continuation. VPVR shows a high-volume node around 1.166, confirming it as a strong demand zone. 🔎 Outlook & Strategy ✅ Bullish Bias As long as the price remains above 1.16645, buying dips could be a favorable strategy. A break above 1.17000 with strong volume could open a path toward 1.1733 and higher. ❌ Invalidation Level A strong close below 1.16600 would invalidate the bullish setup and could return price to the lower support around 1.16000. 📌 Conclusion EUR/USD is displaying strong bullish momentum after breaking a key resistance level and forming a solid support base. A breakout above 1.17000 may lead to a continuation toward 1.17331 and potentially higher. This setup favors bullish positioning with tight risk management.