Lingrid | EURUSD Pulled Back to Key Support level

EURUSD is approaching a major confluence zone at 1.16422 where the downward channel meets the upward trendline and horizontal support. The structure remains bullish with a sequence of higher highs and higher lows, and the current pullback fits within a healthy correction phase. A strong bounce from this triple-support region could trigger a reversal toward 1.18320, validating the continuation of the broader uptrend. All eyes are now on the 1.16450 reaction point for early momentum signs.

📉 Key Levels

• Buy trigger: bullish reaction from 1.16422 support zone
  
• Buy zone: 1.16200–1.16500 (channel base + trendline + demand)
  
• Target: 1.18320
  
• Invalidation: confirmed 4H close below 1.1600 breaks upward structure
  

💡 Risks

• Deeper push below the trendline may trap early buyers
  
• Low liquidity during the bounce can cause fakeouts
  
• Unexpected USD strength could stall recovery momentum
  

If this idea resonates with you or you have your own opinion, traders, hit the comments. I’m excited to read your thoughts!