EUR/USD Bulls Breakout! Is 1.1080 the Next Stop?

Alright traders, let's dive into this EUR/USD daily chart and break down the current market structure. So, check it out—EUR/USD has been riding a nice uptrend lately, with price breaking out above that key 1.09018 resistance level. This breakout is significant because it cleared that long-standing resistance, and now we're seeing some strong bullish momentum. Price is well above the 21 EMA and the 200-day EMA, which further confirms the bullish trend.

Now, what’s interesting here is that we’ve got a clean break with price pushing towards the 1.10800 level, which could be our next major resistance zone. If the bulls maintain control and we see continued momentum, a test of that 1.10800 level seems likely. But remember, the market loves to retest broken levels, so don’t be surprised if we see a pullback towards 1.09018 for a potential buy opportunity. Stay sharp, keep your eyes on those key levels, and let’s see if the bulls can keep the party going!