EURUSD TECHNICAL ANALYSIS 1HOUR CHART NEXT MOVE POSSIBLE

This chart is a EUR/USD 1-hour timeframe analysis, showing a potential bullish setup.

Key Observations:

1. Uptrend Line: A trendline is drawn, supporting the price movement upward.


2. Support & Resistance Zones:

A red zone (resistance turned support) where price might retest before moving up.

A blue zone (previous demand area) indicating past strong buying interest.



3. Projected Move:

The price is expected to retest the trendline/support zone and then continue upwards.

The target area (green box) around 1.05445 suggests a bullish breakout.




Possible Trade Setup:

Entry: After price retests support and confirms a bounce.

Stop-Loss: Below the 1.04475 level (red line).

Take Profit: Around 1.05445 (green target zone).


It looks like a trend continuation strategy based on higher lows and strong momentum. Do you want to add any details for your audience?