EURUSD ANALYSIS | BULLISH REVERSAL OUTLOOK
Timeframe: 1H | ReubenMiles Trade FX
EURUSD is showing signs of a potential bullish reversal after breaking out of the descending trendline. Price is currently trading within a broader consolidation zone, with buyers attempting to gain control following a recent liquidity sweep near the 1.11500 area.
The key support zone around 1.11700 remains important for the bullish outlook. If buyers maintain control and EURUSD breaks above the minor resistance at 1.12150, further bullish momentum could develop toward the next technical resistance levels.
KEY SUPPORT & LIQUIDITY ZONES
1.11700 — Strong support area
1.11500 — Liquidity zone and potential reaction area
BULLISH BREAKOUT LEVEL
1.12150 — Minor resistance and breakout confirmation level
UPSIDE TARGETS
TP1: 1.12300
TP2: 1.12600
TP3: 1.13150
TECHNICAL MARKET OUTLOOK
On the 1-hour timeframe, EURUSD is attempting to recover from its previous bearish trend. The descending trendline breakout suggests that bullish momentum may be developing, but confirmation is still important.
If price holds above the 1.11700 support zone and breaks through 1.12150 with strong bullish momentum, the market could advance toward 1.12300, followed by 1.12600 and potentially 1.13150.
However, if price falls below 1.11700, a retest of the 1.11500 liquidity zone remains possible. Traders should monitor price action carefully before entering any position.
TRADING STRATEGY: Bullish bias above the support zone, with a confirmed breakout above 1.12150 providing a potential continuation opportunity toward higher resistance levels.
Always apply proper risk management, use a suitable stop-loss, and avoid entering trades without confirmation.
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