EURUSD Analysis for October 22, 2026: Bullish Reversal Potential

EUR/USD maintains a bullish H4 outlook following the completion of wave (V) near 1.11129, marking the end of the preceding five-wave decline. The chart anticipates a short-term pullback toward 1.11750 before renewed buying pressure challenges the horizontal resistance around 1.12500. A sustained breakout could extend the recovery toward 1.13250. The descending wedge structure supports the reversal scenario, while a decline below 1.11129 would invalidate the bullish count.