Long-term bullish breakout on EUR/USD!Hey traders,
Let’s dive into some weekly price action on EUR/USD and uncover what the charts are really telling us. 📈
🔍 Key observations (weekly Chart):
Major breakout:
Two weeks ago, EUR/USD printed a strong bullish candle that broke and closed above a critical resistance zone, the July 2023 high and September 2024 high.
➡️ This marks a bullish structural shift on the higher timeframe.
Bullish inside bar:
Last week's candle was also bullish but formed an inside bar, closing within the previous candle’s range and failing to break the high.
➡️ This suggests consolidation, not rejection.
🧠 What it means:
✅ The break above multi-month highs signals strength and long-term bullish momentum.
✅ The inside bar can be viewed as a pause or healthy retest rather than weakness.
✅ Likely, price is accumulating orders before a new push higher.
📅 Weekly bias: bullish continuation
Here’s why:
The break and close above key structure is a big deal.
Consolidation after such a breakout is normal and often precedes continuation.
As long as price stays above the broken highs, the bias is firmly bullish.
🔔 What to watch next:
✅ A break and close above last week's high = strong bullish continuation signal.
🔁 A dip into the broken resistance (now support) + bullish rejection = a solid buy opportunity.
⚖️ There’s a price imbalance just below last week’s low, price could dip into it before taking off again.
💬 Final thoughts:
The long-term trend is shifting. This is not the time to fade strength, but rather to look for high-probability entries on pullbacks.
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