EUR/USD Price Outlook – Trade SetupEuro / U.S. DollarFOREXCOM:EURUSDATFX_Global📊 Technical Structure EURUSD On the 1H chart, EUR/USD is trading within a tightening Symmetrical Triangle pattern. The pair has established a firm horizontal Support Zone between 1.1777 – 1.1785, which has successfully repelled multiple downward attempts. With price currently testing the lower boundary of the triangle and downward momentum slowing, a high-probability opportunity exists to Buy the Support. As long as this floor holds, the pair is expected to bounce toward the descending trendline and the immediate Resistance Zone at 1.1816 – 1.1825. Short-term bias: Bullish bias while above 1.1777; structural weakness only on a confirmed break below. 🎯 Trade Setup (Buy-at-Support Scenario) Entry Zone: $1.1777 – 1.1786$ (Buying at critical support) Stop Loss: $1.1774$ Take Profit 1: $1.1816$ Take Profit 2: $1.1820$ Risk–Reward Ratio: Approx. 1:3.01 📌 Invalidation: A decisive 1H candle close below 1.1777 would invalidate this buy setup, indicating that the support floor has been breached and exposing the 1.1750 region. 🌐 Macro Background The pair’s performance at this support level will be directly driven by today's key economic data: German Inflation Data: Preliminary German HICP for February is expected to rise 0.5% MoM. A stronger-than-expected reading would likely fuel a bounce from the support level. ECB Policy: President Christine Lagarde remains confident that inflation will stabilize at the 2% target in the near term. Her data-dependent stance provides a structural foundation for the Euro. USD Performance: The US Dollar Index (DXY) is ticking lower near 97.65. However, the upcoming US PPI data release is the primary risk factor that could either strengthen the USD or trigger a Euro rally from support. 🔑 Key Technical Levels Resistance Zone: $1.1816 – 1.1825$ Support Zone: $1.1777 – 1.1785$ 📌 Trade Summary The current strategy is to build long positions near the 1.1777 key support, utilizing the defensive nature of the triangle floor. Preferred strategy: Enter in batches within the support zone with a tight stop below 1.1774. Monitor the market closely during the US PPI release, as a significant beat in US data could pressure this support level. ⚠️ Disclaimer This analysis is for reference only and does not constitute trading advice. Financial markets involve significant risk; proper risk and position management are essential.