EUR/USD Price Outlook – Trade SetupEuro / U.S. DollarFOREXCOM:EURUSDATFX_Global📊 Technical Structure EURUSD EUR/USD is consolidating around 1.1620, holding above Support Zone 1 (1.1585–1.1606). The chart shows a potential rebound structure: if buyers defend this zone, the pair could climb toward Resistance Zone 1 (1.1703–1.1718), where the descending trendline also intersects. A rejection from that resistance would confirm bearish continuation, with a possible slide back toward Support Zone 2 (1.1535–1.1550). The overall structure remains within a downtrend, but near-term rebounds are possible. 🎯 Trade Setup Entry: 1.1592–1.1606 (buy near Support Zone 1) Stop Loss: 1.1588 Take Profit 1: 1.1680 Take Profit 2: 1.1703 Take Profit 3: 1.1718 Risk/Reward (R:R): ~1 : 5.35 🗝️ Key Technical Levels Support Zone 1: 1.1592–1.1606 Support Zone 2: 1.1535–1.1550 Resistance Zone 1: 1.1703–1.1718 Trendline Resistance: From early October highs 🌍 Macro Background The euro gains some stability as US-China trade tensions escalate following Trump’s announcement of 100% tariffs on Chinese imports from November 1, weighing on the USD. The ongoing US government shutdown has delayed federal paychecks, further undermining confidence in the dollar. Meanwhile, in Europe, political risks in France have eased as President Macron prepares to appoint a new prime minister, reducing fears of snap elections. On the monetary policy front, the ECB September meeting minutes reaffirmed policymakers’ confidence that current rates are sufficiently restrictive to guide inflation back toward the 2% target. 📌 Trade Summary EUR/USD is testing Support Zone 1 near 1.1600. As long as this support holds, a rebound toward 1.1700–1.1718 is possible, offering short-term long opportunities. However, the broader downtrend remains intact; a rejection near resistance could provide a better risk-reward short setup targeting 1.1550–1.1535. ⚠️ Disclaimer This analysis is for reference only and does not constitute trading advice. Trading involves significant risk, and proper risk management is essential.