EURUSD Long: Bullish Correction Toward 1.16100 Resistance

[etfs]

Hello traders! EURUSD is showing signs of recovery after an extended period of bearish movement inside a descending channel, where sellers controlled the market structure. After several failed attempts to break above the upper boundary, the price has formed a Pivot Point near the Demand Zone around 1.15300, a level where buyers have previously shown strong reaction.

Currently, a rising Demand Line now supports the bullish correction, helping price break out of the descending channel to the upside. The pair is currently moving toward the Supply Zone located at 1.15900–1.16100, which aligns with a key resistance level that previously triggered reversals.For now, the 1.15300 area remains the critical support for buyers.

I expect, holding above this level may allow EURUSD to continue pushing toward the 1.16100 resistance. However, any bearish rejection pattern in the 1.15900–1.16100 zone would signal a potential pullback toward the Demand Line or a retest of 1.15300. On the other hand, a confirmed break and close above 1.16100 would indicate a possible shift toward a medium-term bullish structure. Manage your risk!

[Abdul Khan]

Euro showing solid momentum — 1.1610 could be the next key inflection point.

[Rimon Khan]

If buyers hold above 1.1520, we might see a clean push to resistance.