EURUSD - accumulation and price appreciationEUR/USDOANDA:EURUSDMoon-ForexAcademy📈 1. Market Structure EUR/USD has recovered from the 1.1640–1.1650 demand area and is now trading above the EMA 89 at 1.16642. EMA 9: 1.16721 EMA 89: 1.16642 Price is slightly below EMA 9 but still above EMA 89. The previous descending trendline has been broken, suggesting that the short-term bearish structure is weakening. The market is now forming a potential Higher Low → continuation higher structure. The main idea shown on the chart is a pullback toward 1.1640–1.1650 followed by another bullish leg. ---------------------- BUY EURUSD zone : 1.16450 - 1.16350 SL : 1.16000 TP : 1.16800 - 1.17200 - 1.17600 ----------------------- 🔑 2. Key Support Levels 1.1664–1.1657 — First support EMA 89 Fibonacci 0.382 around 1.16576 Previous breakout/retest area 1.1641 — Major support Fibonacci 0.5 Important demand area A successful rejection here would strengthen the bullish setup. 1.1624 — Critical support Fibonacci 0.618 Losing this level would significantly weaken the bullish structure. 3, ECB — Bullish for EUR Recent eurozone data has been relatively supportive. August flash PMI rose to 52.1 from 52.0, the fastest business-activity growth since November, while manufacturing PMI reached a 54-month high of 52.8. More importantly, markets are increasingly expecting the ECB to raise rates to 2.50% in September, as inflation remains elevated around 2.9% and energy-price pressures persist. ➡️ Hawkish ECB expectations = EUR positive 🇺🇸 US Dollar — Key Risk Today The market is waiting for the latest US PCE inflation data, one of the Fed's preferred inflation indicators. EUR/USD was holding around 1.1675 ahead of the release, while traders are also watching the Federal Reserve's Jackson Hole event. A softer-than-expected US PCE reading could weaken the USD and support a breakout in EUR/USD. ➡️ US inflation ↓ → USD ↓ → EUR/USD ↑ Conversely, stronger US inflation could push Treasury yields and Fed-hawkish expectations higher, creating downside pressure on EUR/USD.