From TradingView · · 1m 20s
EURUSD tests demand with buyers eyeing 1.1550
EURUSD is trying to rebound from a defended demand zone as traders watch nearby resistance and three bullish targets.
In brief
EURUSD is trying to rebound from a defended demand zone as traders watch nearby resistance and three bullish targets. The setup depends on EURUSD holding the 1.1527 to 1.1530 demand zone, then clearing 1.1550 to keep the bullish path alive. Originally reported by TradingView.
Demand is holding
EURUSD is trading near a demand zone around 1.1527 to 1.1530, an area where buyers have defended price more than once in recent sessions.
“buyers have repeatedly defended price”
Support becomes the base
After rejecting lower prices, the pair is trying to build a base near support. That keeps the bullish setup alive for now.
“attempting to build a base near support”
Resistance sits nearby
The next key test is around 1.1550, an intraday resistance area. A clean move through it would strengthen the recovery case.
“key intraday resistance area around 1.1550”
Targets step higher
The bullish targets are 1.1550, 1.1562, and 1.1572. Each level marks a possible stop on the way toward higher liquidity and supply zones.
“Target 1: 1.1550”
Buyers need control
The idea is a bullish reaction from support after a recent corrective phase. Buyers need to regain control for the setup to continue.
“buyers looking to regain control”
The risk is simple
If demand keeps holding, focus stays on higher resistance. If that zone fails, the bullish case loses its foundation.
“As long as demand continues to hold”
The headline
The setup depends on EURUSD holding the 1.1527 to 1.1530 demand zone, then clearing 1.1550 to keep the bullish path alive.
