EurUsd- A nice bullish setup with 1.06 target

Like most major pairs, EUR/USD experienced a challenging final quarter of 2024, with the price dropping approximately 1,000 pips following the double top at 1.12.

The start of 2025 saw a further decline, breaking below the 1.0350 support level and reaching a low of 1.0180.
However, the market quickly reversed after this low.
On Monday, a strong Bullish Engulfing candlestick formed, reclaiming the 1.0350 support level.

Yesterday, this support was confirmed again, leaving a continuation Pin Bar on the daily chart. Adding to this bullish picture, the price also broke above the falling trend line, signaling a well-structured bullish setup.

Currently, the bulls have the upper hand. If the price manages to break above the horizontal resistance at 1.0440, the path should be clear for a rise toward the 1.06 zone.

In conclusion, buying on dips appears to be the ideal strategy, with invalidation of this setup occurring if the price falls below 1.03.