EUR/USD Eyes 1.17 – Expansion Phase in Full Swing
A bullish continuation unfolds as the pair targets the daily 138.2% Fibonacci extension, with validation anchored at the daily pivot zone.
EUR/USD is currently in a daily expansion phase, having broken above the prior countertrend structure. The market is now advancing toward the Fibonacci 138.2% extension at 1.1699, which aligns with a major weekly resistance level near 1.17.
This bullish continuation remains valid as long as price holds above the daily pivot zone around 1.1347–1.1366. A potential retest of this area could offer renewed long opportunities before further upside toward the final target zone. A break below this pivot, however, would invalidate the setup and shift focus back toward lower support zones.
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EUR/USD: Bullish Engine Reignites After Shallow Correction
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Structure-led bullish continuation unfolding across all timeframes
There is a clean H4 breakdown that I left out of my analysis and seems to stop the bulls (and maybe invited the brears). Still, we saw nice target reach.