FX.co ★ Jackroay | EUR/USD

The EURUSD started the trading day with a smooth decline, losing about 33.2 pips before touching the support level at 1.1663, which became an important technical point for market participants. The EURUSD then reacted sharply to economic news concerning the US Dollar during the European session, and this news flow triggered a rapid bullish impulse that changed intraday sentiment. The EURUSD formed a large bullish candle with a long lower shadow, showing that sellers tried to push lower but failed as buyers regained control at the support. This rebound in the EURUSD brought the price more than 80 pips higher, reaching the daily high of 1.1747, which confirmed that demand was still active in the market. At this stage, many traders started to question whether EURUSD would treat 1.1747 as a resistance level, but the overall price action suggested that buyers were not finished yet. The EURUSD demonstrated the ability to climb higher without hesitation, indicating that the pair was building strength to continue testing the northern levels. With the Asian trading session now open, EURUSD continues to show upward momentum, slowly moving towards the Thursday high, which reflects a steady bullish structure.

Looking ahead, EURUSD traders are watching closely whether the pair can break above the resistance levels near 1.1740–1.1750, because such a breakout would clear the path towards the next Fibonacci-based targets. If EURUSD confirms strength above the first resistance, then the price can attempt the 161.8 Fibonacci extension at 1.1772, which would likely be the first achievable goal for short-term bulls. At the same time, EURUSD still faces challenges, because if momentum slows, the pair could revisit 1.1670–1.1660 support to gather liquidity before resuming growth. Despite these risks, the intraday outlook for EURUSD remains optimistic as the pair is trading in the northern half of the range, maintaining the bullish structure from Thursday’s rally. Many traders who missed entries are waiting for a retracement in EURUSD to catch buys at lower levels, while others prefer to take quick profit near resistance levels to avoid pullbacks. The overall technical background suggests EURUSD is more likely to extend growth, especially if Friday’s session manages to close above Thursday’s high. In conclusion, EURUSD continues to reflect strong bullish sentiment, and traders are closely monitoring whether the pair can sustain momentum into next week, aiming for higher targets while keeping in mind that volatility remains elevated.