- May 7, 2026
- Posted by: EWGFX
- Category: Technical analysis
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EURUSD showing strong bullish momentum after multiple breakout confirmations from key resistance zones. Price recently broke above consolidation and is now reacting near the fair value gap (FVG) area around 1.1740.
Current structure suggests two possible scenarios:
Bullish continuation toward 1.1765 – 1.1780 resistance zone
Short-term retracement toward 1.1730 support before next move
The market is respecting breakout structure with higher highs and strong impulsive candles, indicating buyers still active. Watching for confirmation around highlighted support and resistance levels for next direction.
Key Levels:
Resistance: 1.1765 – 1.1780
Support: 1.1730 – 1.1740