The EUR/USD pair is showing a strong bullish setup supported by multiple confluences:
🔹 Inverse Head & Shoulders Pattern
A clean inverse head and shoulders formation has completed near the 1.1225–1.1207 support zone. This structure typically signals a reversal to the upside and has been confirmed with neckline breakout.
🔹 Breakout from Falling Channel
The breakout above the descending channel further supports bullish momentum, suggesting that the prior downtrend has likely ended.
🔹 Ascending Channel Structure
Price is currently respecting a rising channel, with higher highs and higher lows clearly forming. The lower boundary has been tested successfully, adding confidence to long positions.
🔹 Bullish Targets
I’m targeting the Fibonacci extension levels at:
127.2% at 1.13030
141.4% at 1.13223
These levels align with upper channel resistance and offer solid risk-reward potential.
🔻 Key Support / Invalidation
The key support zone is 1.1225–1.1207. A break below this area invalidates the bullish setup.
🎯 Trade Plan
Entry: After neckline breakout or on a minor pullback into the red support zone
TP1: 1.13030
TP2: 1.13223
SL: Below 1.1207 (conservative stop)
🔹 Inverse Head & Shoulders Pattern
A clean inverse head and shoulders formation has completed near the 1.1225–1.1207 support zone. This structure typically signals a reversal to the upside and has been confirmed with neckline breakout.
🔹 Breakout from Falling Channel
The breakout above the descending channel further supports bullish momentum, suggesting that the prior downtrend has likely ended.
🔹 Ascending Channel Structure
Price is currently respecting a rising channel, with higher highs and higher lows clearly forming. The lower boundary has been tested successfully, adding confidence to long positions.
🔹 Bullish Targets
I’m targeting the Fibonacci extension levels at:
127.2% at 1.13030
141.4% at 1.13223
These levels align with upper channel resistance and offer solid risk-reward potential.
🔻 Key Support / Invalidation
The key support zone is 1.1225–1.1207. A break below this area invalidates the bullish setup.
🎯 Trade Plan
Entry: After neckline breakout or on a minor pullback into the red support zone
TP1: 1.13030
TP2: 1.13223
SL: Below 1.1207 (conservative stop)
Trade closed: target reached
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.