Bearish Channel Breakout, Pullback, and CCI Oversold; EURUSD Set to Rise

The EURUSD currency pair has successfully emerged from a bearish channel, indicating a potential reversal in trend. Currently, the price is undergoing a pullback, which often serves as an opportunity for further strengthening. The CCI indicator is in the oversold range, suggesting that selling pressure is beginning to dissipate, thus creating a chance for an upward rebound.

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Aligned with the hourly chart analysis presented above, the 15-minute chart of EURUSD also suggests bullish opportunities as the price has broken out of the bearish channel. The MACD supports the potential for a further upward movement. This could lead EURUSD toward a resistance level of 1.04195.

Technical Reference: buy while above 1.02875
Potential Take Profit 1: 1.04010
Potential Take Profit 2: 1.04195
Potential Stop Loss 1: 1.03095
Potential Stop Loss 2: 1.02875