EUR/USD is showing a bullish structure on the 1H chart after breaking above the recent consolidation and pushing toward 1.1580. The breakout came with a noticeable volume expansion, which adds strength to the move.
Technical view:
🔹 Current price: ~1.15580
🔹 Key support: 1.1536–1.1540
🔹 Major invalidation: 1.1519–1.1527
🔹 Resistance / target 1: 1.1585–1.1590
🔹 Target 2: 1.1613
🔹 Price is holding above the Ichimoku structure, keeping the short-term bias bullish.
🔹 The rising trendline continues to support higher lows.
Possible next move
The preferred scenario is a pullback/retest toward 1.1536–1.1540, followed by a bullish continuation. If buyers defend this zone, EUR/USD could retest 1.1585–1.1590 and potentially extend toward 1.1613.
A sustained 1H close below 1.1527 would weaken the bullish setup and increase the risk of a deeper correction.
Trading idea:
🟢 Buy the pullback after bullish confirmation
🎯 TP1: 1.1585
🎯 TP2: 1.1613
🛑 Invalidation: below 1.1527
Short title:
EUR/USD: Bullish Breakout — Retest Before 1.1613?
This is technical analysis, not a guaranteed price prediction. Manage risk and wait for confirmation.
The broader backdrop also currently favors caution around USD strength: recent weak U.S. payroll data has weighed on the dollar and helped EUR/USD reach a seven-week high around 1.1580. citeturn0news22
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