Alex Bobrov
⬤ EUR/USD is catching traders' eyes on the weekly timeframe as recent price moves hint at building bullish strength. The chart reveals the pair bouncing back from lower territory and printing a solid bullish candle, which shifts attention back to upper resistance zones. This development follows a stretch of choppy consolidation, potentially marking a directional shift in the market.
⬤ The weekly perspective for EUR/USD leans bullish, with 1.1917 marked as the target. The chart shows a recovery phase marked by rising lows and expanding green candles—classic signs of growing buying interest. There's a notable horizontal level around 1.17 where price found its footing before launching this latest upward move.
⬤ The latest weekly candle stands out for its size and closes near the top of its range, pointing to real momentum rather than hesitation. EUR/USD now sits above recent consolidation territory, with price behavior aimed at previous highs instead of drifting back down. The 1.1917 mark lines up with a clearly visible resistance zone on the chart, making it a technically sound target backed by structure.
⬤ This EUR/USD picture matters because the pair serves as a key gauge for both euro sentiment and dollar strength across markets. A sustained push toward 1.19 would validate the bullish story visible on the weekly chart, while losing steam near current levels might drag things back into range-bound action. The next few weekly closes will tell us whether this upside run has real legs or not.
Alex Bobrov
