EUR/USD Bullish Reversal Breakout Pattern

Technical Analysis Summary:

The chart illustrates a strong bullish reversal pattern forming on the EUR/USD pair:

🔹 Double Bottom Formation (🔶🔶):

Two clear bottom zones are marked with orange circles near the 1.14400–1.14500 area, indicating strong buying interest and support.

The second bottom confirms the double bottom pattern, often a precursor to an upward trend.

🔹 Support Zone (📉):

Firm support around 1.14450, as highlighted on the chart.

Price has respected this zone twice, bouncing back with bullish momentum each time.

🔹 Neckline Breakout (🔼):

Price is approaching the neckline zone at 1.16087, which acts as the bullish target.

A break and close above this neckline will confirm the reversal and open the way toward the resistance zone around 1.16500.

🔹 Projected Move (🎯):

If the neckline breaks, price is expected to surge towards 1.16500, aligning with the historical resistance.

This move completes the measured target projection from the double bottom structure.

🔹 Bullish Structure:

Higher lows and strong bullish candles are reinforcing the uptrend momentum.

Curved trajectory shows accumulation followed by a breakout phase.

📌 Key Levels to Watch:

Support: 1.14450 – 1.14500

Neckline/Target: 1.16087

Resistance: 1.16500

🛑 Invalidation:

A strong breakdown below support (1.14450) would invalidate this bullish setup.