EURUSD has broken above the 1.1578–1.1585 resistance zone, reaching 1.1614 before pulling back. The short-term structure remains bullish, with price trading above both the 20-day and 50-day moving averages.
Because momentum is already elevated, I would avoid chasing the breakout. The preferred setup is to wait for former resistance to act as support.
🟢 Bias: Bullish
⏱ Timeframe: H4
📍 Entry zone: 1.1570–1.1580, after bullish rejection or an H4 close holding above the zone
🛑 Stop loss: 1.1510
🎯 Take profit 1: 1.1660
🎯 Take profit 2: 1.1710
At an average 1.1575 entry, the approximate reward-to-risk is 1.3R to TP1 and 2.1R to TP2.
Rationale: The 1.1578–1.1585 area capped price several times before the breakout. A successful retest would turn that resistance into support. The next important upside areas are approximately 1.1660 and 1.1710.
Invalidation: An H4 close below 1.1510 would break the recent higher-low structure and invalidate the bullish thesis.
If price continues higher without revisiting the entry zone, I consider the trade missed rather than chase it. Risk no more than 0.5–1% of trading capital and check the economic calendar before entering.
Educational analysis only—not financial advice.
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