EUR/USD – Daily Breakout Revalidates Weekly Upside Target
Multi-timeframe impulse structure suggests potential continuation toward 1.16990–1.18000
Market Overview
EUR/USD continues its bullish expansion across all higher timeframes, with structure confirming alignment from daily to monthly charts. Following a clean impulsive reversal of the daily countertrend, the pair now targets a key Fibonacci zone and prior breakdown structure just below 1.18.
Monthly Trend
The pair has reached the previous monthly breakdown zone at 1.16476, marking a technically significant level from which major distribution began in 2021. The next key monthly level above is 1.17308, with a historical pivot at 1.22258. These levels form part of a larger potential retracement into the monthly macro range.
Weekly Structure
The weekly chart confirms a clear bullish impulse breaking through 1.16000—the 138.2% weekly Fibonacci target. Price is now extending toward the confluence of historical breakdown and Fibonacci projection around 1.16990. A move beyond this would open room toward the weekly 161.8% target at 1.17775.
Daily Chart
The daily timeframe shows a completed countertrend correction, which broke both structure and the descending countertrend line with a decisive impulse. This reversal reclaimed key resistance at 1.15609 and is now advancing into the next target zones:
Daily target Fibonacci 138.2% at 1.16476
Weekly breakdown level and cluster at 1.16990
The daily pivot zone between 1.13966 and 1.14444 remains intact and unviolated. As long as this zone holds, the upside structure remains valid and in expansion mode.
Key Trigger Levels
Green Countertrend Breakout: Above 1.15510
Daily Long Trigger Zone: Confirmed above descending green trendline
Target Zones
Daily Target Fibonacci 138.2%: 1.16700
Weekly Breakdown Retest Zone: 1.16990
Weekly/Daily Target Fibonacci 161.8%: 1.17775
Validity
The setup remains valid above the daily pivot zone (1.13966–1.14444). A sustained break below this area would challenge the current bullish continuation structure.
Conclusion
EUR/USD is structurally aligned across all higher timeframes, with the recent daily impulse validating the end of correction. With the countertrend broken and momentum pointing toward the 1.16700–1.17775 zone, this area becomes the critical focus for continuation or rejection. As long as the daily pivot holds, this remains an active expansion scenario.
How are you interpreting this structure? Share your view in the comments—let’s compare frameworks.