EUR/USD Technical Analysis: Bullish Ascending Channel Eyes 1.1850 Resistance

Note: This section contains information in English only.
Source: Dukascopy Bank SA
EUR/USD 1-hour chart shows a bullish market structure, with price action moving within a well-defined ascending channel and consistently forming higher highs and higher lows. Price remains in the upper half of this channel, signaling strong buying momentum, while both key moving averages support the trend: the SMA 50 at 1.17622 acts as dynamic short-term support and stays above the SMA 100 at 1.17281, confirming sustained upward pressure.



The market is currently hovering around the 1.17894 pivot level; a firm hold above this area could drive price toward the next major resistance at 1.18514, while a break below 1.17622 may trigger a deeper pullback toward 1.1720, aligning with the SMA 100 and lower channel support. Overall, the structure suggests a bullish continuation, with current consolidation resembling a potential bull flag before another upward move.
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