EURUSD: Holding Above Support, Targeting 1.1840 ResistanceEuro / U.S. DollarFOREXCOM:EURUSDRatnerHello everyone, here is my breakdown of the current EURUSD setup. Market Analysis EURUSD has been trading within a broader corrective structure after failing to sustain bullish momentum near the previous highs. Following the impulsive upside move, price was rejected from a key Resistance Zone, which triggered a transition into consolidation and a gradual shift toward a contracting structure. This phase was characterized by overlapping price action, signaling indecision rather than strong directional control. As the correction developed, price formed a horizontal range above a clearly defined Support Zone, indicating that buyers were actively defending this area. Multiple reactions from the lower boundary of the range confirmed the presence of demand, while the upper boundary continued to cap upside attempts. At the same time, price respected a descending triangle resistance line, reinforcing the idea of compression rather than trend continuation. Currently, EURUSD broke out of the range structure to the upside and began forming higher lows, supported by a rising trend line from below. This behavior suggests that selling pressure is weakening and that buyers are gradually regaining control. Importantly, price is now holding above the former range high, turning it into potential support, which strengthens the bullish case. However, a major Resistance Zone remains overhead, representing the next key area where sellers may attempt to react. My Scenario & Strategy My primary scenario remains bullish as long as EURUSD holds above the 1.1780–1.1770 Support Zone and continues to respect the rising trend line. The recent breakout and consolidation above support suggest accumulation rather than distribution. If buyer pressure continues, price may attempt a push toward the 1.1840–1.1850 Resistance Zone (TP1), where liquidity and supply are likely to be concentrated. A clean breakout and sustained acceptance above this resistance would confirm bullish continuation and open the door for further upside expansion. However, a decisive breakdown below the support zone and a loss of the rising structure would invalidate the bullish scenario and indicate a return to a broader corrective or bearish phase. Until that happens, current structure and price behavior favor buyers. That’s the setup I’m tracking. Thank you for your attention, and always manage your risk.