EUR/USD is currently trading around 1.1009, sitting right between two major trendlines:
🟢 Long-Term Bullish Support – This green ascending trendline has held since late 2022, forming a solid base for higher lows and signaling a potential macro reversal.
🔴 Multi-Decade Bearish Resistance – The red descending trendline has capped EUR/USD since the 2008 highs, forming a dominant long-term downtrend.
We’re now at a critical confluence zone where these two trendlines intersect. Price has pushed just above the red resistance, hinting at a potential breakout—but confirmation is still pending.
🔍 Key Scenarios:
✅ Bullish Breakout: A sustained weekly close above the red trendline could confirm a long-term trend shift. Targets: 1.15, 1.25, and possibly 1.35+ in the coming years.
❌ Bearish Rejection: If this breakout fails, EUR/USD could drop back toward green trendline support (~1.05). A breakdown below that would reintroduce downside pressure toward 1.00 or lower.
🟢 Long-Term Bullish Support – This green ascending trendline has held since late 2022, forming a solid base for higher lows and signaling a potential macro reversal.
🔴 Multi-Decade Bearish Resistance – The red descending trendline has capped EUR/USD since the 2008 highs, forming a dominant long-term downtrend.
We’re now at a critical confluence zone where these two trendlines intersect. Price has pushed just above the red resistance, hinting at a potential breakout—but confirmation is still pending.
🔍 Key Scenarios:
✅ Bullish Breakout: A sustained weekly close above the red trendline could confirm a long-term trend shift. Targets: 1.15, 1.25, and possibly 1.35+ in the coming years.
❌ Bearish Rejection: If this breakout fails, EUR/USD could drop back toward green trendline support (~1.05). A breakdown below that would reintroduce downside pressure toward 1.00 or lower.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.