EUR/USD – Technical Analysis and Trade Setup for TodayEuro/US DollarFX:EURUSDHenrybillionThe euro is showing early signs of recovery after forming a rounded bottom structure on the H1 timeframe. Price is currently consolidating near the 1.1550 zone, waiting for confirmation of bullish continuation before facing higher resistance. Technical Breakdown Immediate Support: 1.1530 – 1.1520 (local demand zone and EMA support) Key Resistance: 1.1600 – 1.1620 (trendline confluence and Fibonacci 0.618 level) Dynamic Support: EMA(9) at 1.1556, currently guiding short-term direction Market Structure After a prolonged decline, EUR/USD broke above the curved trendline, indicating a potential shift from bearish momentum to a corrective bullish phase. However, the recent rejection from 1.1610 suggests sellers are still active at higher levels. A retest toward 1.1530–1.1520 may provide the next buying opportunity if bullish pressure returns. Trading Plan Scenario 1 – Bullish Pullback: Buy near 1.1530 with a target toward 1.1600 – 1.1620. Stop-loss below 1.1500. Scenario 2 – Bearish Continuation: If price fails to hold above 1.1520, short positions could target 1.1470 – 1.1440. Bias: Short-term bullish while holding above 1.1520. Conclusion EUR/USD is developing a potential “cup-shaped” recovery pattern, with short-term bullish potential before meeting heavy resistance near 1.1620. Watch for price action confirmation around the EMA and key Fibonacci levels before entering. Save this setup and follow for more daily EUR/USD strategies and Fibonacci trendline insights to stay updated with real market movement.