Alex Bobrov
⬤ EUR/USD has bounced back from its recent lows and is now pushing toward the 1.1840 resistance area—a zone being watched closely as a potential sell region. Traders are zeroing in on how the pair behaves at this level, with selling pressure expected if resistance proves solid.
⬤ The chart shows EUR/USD recovering from around 1.1770–1.1780 support, climbing steadily into the 1.1840–1.1850 resistance zone where the pair previously consolidated before breaking down. This supply area could attract fresh sellers looking to fade the rally.
⬤ Momentum appears to be slowing as EUR/USD nears resistance. The projected move on the chart suggests possible hesitation or rejection from 1.1840, which could send the pair back toward recent swing lows if sellers step in. However, a clean break above this zone would flip the script and point to further upside.
⬤ This test matters for near-term direction since EUR/USD often mirrors shifts in dollar sentiment. A rejection at 1.1840 would reinforce range-bound or corrective price action, while a breakout would change the technical picture entirely. With the pair now sitting at a decision point, what happens next at this level will likely determine short-term volatility and momentum.
Alex Bobrov
