EUR USD- IS EUR USD AGAIN GOING TO PREVIOUS HIGH LABEL- 1.17500 OR 1.18000 ??

EURUSD started a bullish rally from the label -1.01776 in the last month of January in this year 2025. It’s a massive and long-lasting upward direction. The recent length of this bullish rally is 1.01776 to 1.18298.About 1700 pips. On the first day of last month, July, the EUR USD reached the highest top of the recent move at 1.18298. After that, it gets some corrective pullback and has fallen to the label- 1.15740. This label is a previous key weekly broken resistance. Then EUR USD has made that old resistance as new support. And again push the price high to the label -1.17887, also get a new resistance with this label. Suddenly, the EURUSD started a bearish momentum from the new resistance level of 1.17887. This bearish move has been able to break the previous SR label -1.15740. We then had to thank that it was changing the trend direction to bearish. But the EUR USD price did not sustain the breakout. It was an excellent false break.

We have seen the EURUSD price return with a big volume candle and close above the previous broken SR label-1.15740. This big volume candle means smart money entered by the buyer. Last Tuesday, this week, there was a bullish pin bar created in the falls break label as a retest of the false break label in the daily chart. It’s also confirmation of a bullish false break. Yesterday, we saw the eur usd price close above the 21 day Ema. It’s also bullish momentum intact. Signal. So, in this picture of the EURUSD charts of daily and weekly, we can expect the EURUSD price to go back to the high level of 1.17500 or more!