FX.co ★ EUR/USD

Based on the provided EURUSD H1 data, the pair is in a clear, strong, and consistent uptrend over the observed period from January 22nd to 28th. The price has risen steadily from approximately 1.1720 to 1.1880, forming a sequence of higher highs and higher lows. Each data point shows the price reaching a new level and then consolidating slightly higher, indicating sustained buying pressure and bullish momentum. The price action demonstrates a well-defined upward trajectory with minimal retracements. The market structure is robustly bullish, with each previous high acting as support for the next leg up. The levels now act as a ladder of support: 1.1840-1.1850, 1.1810-1.1820, and 1.1780-1.1790. The immediate focus is on whether the price can sustain its momentum above the most recent high near 1.1880. A break above this level would confirm the continuation of the trend, while any pullback would likely find buyers at the recent support steps. Trading Plan (Trend-Following) Given the established and strong uptrend, the primary strategy is to look for buying opportunities on dips or pullbacks to support levels. Buying Plan (Primary Strategy): · Scenario: Buy on a pullback to a previous support level in line with the uptrend. · Entry Zone: Look for a retracement towards the 1.1840 - 1.1850 area (the previous consolidation zone). · Stop Loss: Place below a recent swing low, for example, below 1.1820. · Take-Profit Target: Aim for a continuation to new highs above 1.1880, with an initial target at 1.1900-1.1920. Selling Plan (Counter-Trend, High Risk): · Scenario: Only consider selling if there is a clear, strong reversal signal breaking the uptrend structure. This is not recommended but included for risk awareness. · Condition: A confirmed hourly close below 1.1820 (breaking a higher low structure) would be needed to suggest a potential trend change or deeper correction. · Entry: A short entry could be considered on a confirmed break below 1.1820. · Stop Loss: Place above 1.1860. · Take-Profit Target: A conservative target would be the next major support, around 1.1790. Summary: The dominant plan is to align with the uptrend and seek buying opportunities on any weakness, as the momentum is strongly bullish. The selling plan is a high-risk contingency for a trend reversal and should only be considered if the bullish structure clearly breaks down.