EURUSD Pullback Setup β€” 1.1610 Buyer Zone in Focus

Wait 5 sec.

EURUSD Pullback Setup β€” 1.1610 Buyer Zone in FocusEuro / U.S. DollarFOREXCOM:EURUSDLegionQ8Hello traders! Here’s my technical outlook based on the current EURUSD (3H) chart structure. EURUSD previously traded inside a descending channel before breaking above the resistance line and shifting bullish. Price then formed a range and later broke higher toward the 1.1690 Seller Zone, where a fake breakout was rejected. Currently, EURUSD is trading below the 1.1690 Seller Zone while holding above the 1.1610 Buyer Zone and rising trend line. The recent rejection and fake breakout suggest that a short-term correction may develop. As long as EURUSD remains below the 1.1690 Seller Zone and respects the resistance line, the bearish scenario remains valid. A rejection from current levels could push price toward the 1.1610 Buyer Zone (TP1). However, a strong breakout and close above 1.1690 would weaken the bearish outlook and increase the possibility of further upside. Please share this idea with your friends and click "Boost" πŸš€