The EURUSD pair is showcasing a resilient bullish bias during the US session tonight, despite experiencing a slight correction from recent gains. The price remains comfortably situated within a bullish channel, indicating that buyer dominance is still intact. A consistent ZigZag pattern, forming higher highs and higher lows, further emphasizes that market direction is favoring buyers, laying a solid foundation for continued upward movement.
The strengthening momentum of EURUSD in the US session tonight is also bolstered by the MACD remaining in positive territory, signifying that buying pressure continues to dominate and is not easily disrupted by temporary declines. A strong rebound from the golden ratio Fibonacci area serves as a signal that buyers are actively using corrections as accumulation zones. This scenario keeps the prospect of prices moving towards the Fibonacci expansion level of 161.8 alive, provided that the bullish push persists.
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On the 15-minute timeframe, EURUSD is demonstrating a strong technical structure, with the price moving smoothly within the bullish channel. An upward-moving average and a stable ZigZag pattern within an uptrend provide additional confirmation that the short-term market remains under buyer control. Should this momentum persist through the US session tonight, EURUSD could test key resistance at the level of 1.16815 as the nearest target.
Technical Reference: buy while above 1.16090
Potential Take Profit 1: 1.16700
Potential Take Profit 2: 1.16815
Potential Stop Loss 1: 1.16215
Potential Stop Loss 2: 1.16090
