The EURUSD pair is experiencing a slight correction during the European afternoon session; however, the bullish structure on the 1-hour time frame remains intact. The Higher High – Higher Low (HH–HL) pattern indicates that the dominance of buyers is still present, with prices continuing to follow a healthy upward trend. Despite a brief dip, there are no significant signs of weakness in the price structure, allowing the possibility for a continued bullish scenario as long as intraday support holds firm.
Additional support comes from the zigzag indicator, which consistently forms an uptrend pattern, reinforcing the signal that buying pressure remains predominant. Meanwhile, the CCI has rebounded from the oversold zone, offering fresh momentum for buyers to maintain control. The combination of these indicators underscores that EURUSD still has the potential to strengthen further if the market responds positively and volatility supports the upward trend in the following sessions.
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The ZigZag and moving averages continue to provide strong confirmation of the bullish momentum, clarifying the upward structure that has already formed on the 15-minute time frame. Prices moving steadily within the bullish channel indicate that buyers are still firmly in control, as selling pressure has yet to sufficiently reverse the trend. With the consistency of these technical signals, EURUSD has a high chance of extending its rise towards a significant resistance level at 1.16130.
Technical References: buy as long as above 1.15610
Potential Take Profit 1: 1.16030
Potential Take Profit 2: 1.16130
Potential Stop Loss 1: 1.15710
Potential Stop Loss 2: 1.15600
