Usman Salis
The EUR/USD currency pair is drawing trader attention this week as technical signals point to a possible bullish breakout. A popular analyst on X highlighted a rare risk-to-reward setup, forecasting a potential surge toward the 1.1830 level. The trade setup is unfolding just ahead of the U.S. Non-Farm Payrolls (NFP) report — a key macroeconomic event that often sparks heightened volatility in forex markets.
EUR/USD Eyes 1.1830 Following Structure Break
According to the 4-hour chart analysis, EUR/USD has completed a structure restart (SR), followed by a correction phase. The trader has entered long at the 1.1756 level, with a stop-loss placed around 1.1740 and an ambitious target of 1.1830 — offering a rare 1:7 risk-reward ratio.
The price is currently trading near 1.1762, with bulls looking to defend key Fibonacci support around 1.1711. If the pair sustains above the correction zone, a breakout toward the resistance range (highlighted near 1.1829–1.1830) becomes increasingly likely.
Traders Brace for NFP Volatility
While the technicals favor further upside, Friday’s U.S. NFP report could either confirm or derail bullish momentum. Historically, NFP has introduced sharp swings in EUR/USD, particularly when the figures deviate from expectations.
As the analyst notes: “We’ve had a structure break, and while some consolidation is expected, I’m targeting a break of the 1.1830 highs. Let’s see if she plays.”
Traders should monitor both price action and economic releases closely as the setup develops.
Usman Salis
