Breakdown of EUR/USD H1 Chart. Here is a technical analysis of the EUR/USD H1 chart . 1. Overall Market Structure & Trend. Higher Highs & Higher Lows: The price action demonstrates a clear bullish market structure on the 1-hour timeframe. The ZigZag overlay highlights a series of higher swing lows around 1.1374, 1.1420, 1.1466 leading up to higher swing highs. Breakout & Momentum: Price aggressively broke out above previous resistance at 1.1512,1.1530, printing a fresh local high near 1.1558 before undergoing a minor pullback. 2. Key Price Levels. Type | Price Level Significance Current Resistance 1.1558 Recent swing high; immediate ceiling to beat for continuation. Key Support / S&R Flip 1.1512 , 1.1530 Previous structural peak that was broken; now acts as potential support. Major Swing Support 1.1466 | Prior higher low; breaking below this would invalidate the bullish structure. Trade Entry Line 1.14316 Open BUY 0.5 lot position currently in +$492.50 USD profit. 3. Trade Position Analysis Entry: 1.14316 Buy 0.5 Lots. Current Price: 1.15301 Unrealized Profit: +98.5 pips ~$492.50. Status: This is an exceptionally well-timed entry positioned near the base of the recent impulse leg. 4. Possible Scenarios & Recommendations. Bullish Continuation Primary. If price holds above the 1.1512,1.1530 support region retest of broken resistance, it is likely to retest the recent high at 1.1558 and potentially push toward 1.1600. Deeper Pullback Secondary. A break back below 1.1512 could trigger a deeper correction toward the 1.1466 swing low before buyers step back in. Risk Management Suggestion: Consider trailing your Stop Loss into profit e.g., above 1.1466 or 1.1500) or locking in partial profits, given the significant gain already achieved.
