EURUSD Long: Signals Potential Recovery From 1.1580 Demand Zone

Hello traders! Here’s my technical outlook based on the current EURUSD (4H) chart structure. EURUSD previously traded inside a consolidation range. After forming a major pivot point near the upper boundary of the channel, price reversed sharply and started a bearish correction toward the lower support area. Currently, EURUSD is trading above the 1.1580 demand zone, while remaining below the 1.1640 supply zone. Price recently broke below the mid-range structure and retested the supply zone before facing another rejection, signaling that sellers are still active despite the current rebound attempt. As long as EURUSD remains above the 1.1580 demand zone and continues to respect the ascending channel support, the bullish recovery scenario remains valid. A continuation higher could push price toward the 1.1640 supply zone (TP1). Manage your risk!