EURUSD: Price break resistance and continue to growEuro / U.S. DollarFOREXCOM:EURUSDRatnerHello everyone, here is my breakdown of the current Euro setup. Market Analysis From a broader perspective, after exiting a prior Upward channel, the price action has entered a large consolidation phase. This has created a well-defined trading range between the major Support zone around the 1.1470 level and the key Resistance Zone up to the 1.1745 area, indicating a period of market balance. Currently, the price is coiling within a large pennant formation, a classic sign of contracting volatility before a significant move. The price is now at a critical point, testing the descending resistance line of this pennant, which also aligns with the major horizontal Resistance at the 1.1710 level. My Scenario & Strategy My scenario is built on the idea that this pennant is a bullish continuation pattern, where buyers are absorbing supply before attempting the next leg higher. I'm anticipating a brief corrective dip from the current position before the main move begins. Following this, I expect buyers to take the initiative and push the price upwards, forcing a breakout above both the pennant's resistance line and the horizontal 1.1710 Resistance level. A successful break and hold above the Resistance Zone would validate the long scenario. The primary target for this breakout move is 1.1820 points, representing a logical next objective for an upward expansion. That's the setup I'm tracking. Thank you for your attention, and always manage your risk.