EUR/USD (1H) – Bullish Breakout Retest at Key Support ZoneEuro/US DollarFX:EURUSDTradesByJenniferThe EUR/USD pair is currently trading around a significant support zone between 1.12750 and 1.12800, which has historically acted as a strong reaction level. Price action shows that the market has recently broken out of this level and is now retesting it, forming a potential bullish continuation setup. The overall market structure remains bullish, with consistent higher highs and higher lows indicating an active uptrend. If the current support holds, a bullish move toward the next key resistance zone at 1.16030 is highly likely. A potential entry can be considered between 1.12800 and 1.13400, ideally after confirming bullish price action such as bullish engulfing candles or strong rejection wicks. A stop loss placed around 1.12190 will protect against a failed breakout scenario, while the first take-profit target can be set at 1.16030, providing a favorable risk-to-reward ratio of approximately 1:4. This zone also aligns with previous swing highs, increasing its validity as a target. Additionally, indicators such as RSI or MACD may show oversold conditions near this support, further validating the potential for a bullish move. Overall, this setup combines key technical levels, strong price structure, and favorable market conditions for a high-probability long trade. Please note that this analysis is for educational and informational purposes only; proper risk management and personal due diligence are essential when entering any position in the forex market.