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EUR/USD – Breakout Potential (1 Viewer)

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 EUR/USD – Breakout Potential (1 Viewer)

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EUR/USD trades at 1.1320 after a bullish close last week, supported by the 1.1150-1.1200 zone three times since February. Resistance at 1.1400 remains formidable, with RSI at 70 and Stochastic indicators suggesting a possible pullback. The ECB’s April 17 meeting could influence direction—dovish guidance might weaken the euro, while US-EU trade tensions cap gains.
On the four-hour chart, Fibonacci retracement marks 1.1300 as a pivot, with 1.1450 (61.8% level) as the upside target. Volume increases on bullish candles, but sellers are active near 1.1350.
Trade plan: Go long above 1.1350, targeting 1.1450 with a stop at 1.1290. Bears can short a rejection at 1.1400, aiming for 1.1250. Scalpers should target 20-pip moves around 1.1300. How are you trading EUR/USD? #EURUSD #ForexTrading
 

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