Description:
This EUR/USD idea is a long setup based on a clean breakout–retest structure on the 4H timeframe. Price broke out above a previous consolidation zone between ~1.083–1.093 and is now retesting that same zone, which is acting as support. The retest is showing signs of buyer interest, aligning with bullish continuation momentum.
We’re seeing confluence from:
Trade Plan:
This EUR/USD idea is a long setup based on a clean breakout–retest structure on the 4H timeframe. Price broke out above a previous consolidation zone between ~1.083–1.093 and is now retesting that same zone, which is acting as support. The retest is showing signs of buyer interest, aligning with bullish continuation momentum.
We’re seeing confluence from:
- Break and retest of horizontal support (former resistance)
- Continuation structure above the key demand zone
- Bullish trend in play with higher highs and higher lows
- Potential to target the next significant resistance around 1.21155
Trade Plan:
- Entry Zone: 1.092
- Stop Loss: 1.088
- Target: 1.21155
This setup offers a favorable risk-reward scenario while aligning with macro USD softness and euro strength on recent economic developments. I’ll be monitoring momentum and price action on the lower timeframes to manage the trade accordingly.
Disclaimer
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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.