EURUSD- Bullish trade plan on 4 Hours TF Chart

Technical Analysis:
Entry:

The entry point is located at 1.10558, suggesting a long position (buy) in anticipation of upward movement.
Stop Loss:

The stop loss is set at 1.10194, placed below a critical support zone to protect against downside risk. This placement indicates that if the price drops below this level, the trader anticipates further bearish momentum.
Take Profit:

Positioned at 1.11553, the take-profit target is significantly higher, suggesting confidence in the upward potential after the breakout.
Trendline and Fakeout:

A descending trendline was broken, signaling a potential reversal in the bearish trend.
The fakeout zone below the support level might have been a trap for sellers before the price pushed higher.
Support:

The price retested the previous support zone after the breakout, confirming it as a valid buying zone before moving upward.
Fundamental Analysis:
Although not directly shown on the chart, fundamental factors affecting EUR/USD would typically include:

Monetary policy updates from the ECB (European Central Bank) or Federal Reserve, especially interest rate decisions.
Economic data releases, such as:
Inflation rates in both the Eurozone and the US.
Unemployment rates or other labor market indicators.
GDP growth rates.
These events could influence volatility and price movement around key levels like the ones identified in the technical analysis.
Overall, the chart shows a trading plan based on a bullish setup, supported by technical confirmation and anticipating fundamental drivers to align with the trend.