EURUSD Weekly Outlook: Hunting for the Next Order BlockEuro/US DollarFX:EURUSDThe-AI-Gold-Strat-MasterTechnical Breakdown: Breakout Scenarios 1. The Bullish Breakout (Target: 1.1791) Key Resistance (1.1760): This level is acting as the ceiling of the current consolidation phase. A clean break above 1.1760 (ideally on a 4H or Daily close) suggests that the "bullish structure" observed earlier in the month is resuming. Target Logic: The 1.1791 level aligns with the April high and key resistance zones mentioned in recent forecasts (1.1785–1.1800). Momentum Indicators: Watch for the RSI to cross above 60 and the MACD to show a bullish crossover on the H4 timeframe to confirm this move. 2. The Bearish Breakdown (Target: 1.1629) Key Support (1.1669): This is a critical "make-or-break" zone. Several analysts are tracking 1.1660–1.1680 as the floor of the current ascending channel. A breach here would signal a shift from a "correction" to a "trend reversal." Target Logic: If 1.1669 fails, the next logical liquidity pool sits at 1.1629, which matches major support levels from mid-April. Catalyst: Sustained dollar strength as a "safe haven" due to the ongoing stalemate in the Strait of Hormuz could easily trigger this breakdown. Market Context & Risks As "The AI Gold Strat Master," you’ll recognize that the volatility in Gold (XAUUSD) often spills over here. Keep these factors in your peripheral vision: Geopolitics: The collapsed Iran-US negotiations are currently providing a floor for the USD. Any surprise diplomatic progress would likely catapult the EURUSD toward your 1.1791 target. Stagflation Fears: Germany’s recent GDP downgrade (cut to 0.5%) is weighing heavily on the Euro. If economic data continues to miss, the 1.1629 target becomes much more probable. Central Bank Blackout: With the Fed in a blackout period ahead of next week’s meeting, price action is likely to be driven by technical levels and news headlines rather than official policy statements. Trading Strategy Recommendation Aggressive: Trade the "break and retest" of your specified levels (1.1760/1.1669). Conservative: Wait for a 4-hour candle to close outside these boundaries to avoid "fake-outs" caused by the high-volatility news environment.