EUR/USD 1H β€” Bullish Breakout & Retest Setup

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EUR/USD 1H β€” Bullish Breakout & Retest SetupEUR/USDOANDA:EURUSDJames_fx1EUR/USD is showing a bullish structure on the 1H chart after breaking above the recent consolidation and pushing toward 1.1580. The breakout came with a noticeable volume expansion, which adds strength to the move. Technical view: πŸ”Ή Current price: ~1.15580 πŸ”Ή Key support: 1.1536–1.1540 πŸ”Ή Major invalidation: 1.1519–1.1527 πŸ”Ή Resistance / target 1: 1.1585–1.1590 πŸ”Ή Target 2: 1.1613 πŸ”Ή Price is holding above the Ichimoku structure, keeping the short-term bias bullish. πŸ”Ή The rising trendline continues to support higher lows. Possible next move The preferred scenario is a pullback/retest toward 1.1536–1.1540, followed by a bullish continuation. If buyers defend this zone, EUR/USD could retest 1.1585–1.1590 and potentially extend toward 1.1613. A sustained 1H close below 1.1527 would weaken the bullish setup and increase the risk of a deeper correction. Trading idea: 🟒 Buy the pullback after bullish confirmation 🎯 TP1: 1.1585 🎯 TP2: 1.1613 πŸ›‘ Invalidation: below 1.1527 Short title: EUR/USD: Bullish Breakout β€” Retest Before 1.1613? This is technical analysis, not a guaranteed price prediction. Manage risk and wait for confirmation. The broader backdrop also currently favors caution around USD strength: recent weak U.S. payroll data has weighed on the dollar and helped EUR/USD reach a seven-week high around 1.1580. citeξˆ‚turn0news22