The EURUSD pair is exhibiting strong signals for continuing its bullish trend after successfully breaking out of the bearish channel that had constrained its movements. This breakout suggests that the previous selling pressure is beginning to diminish, creating an opportunity for prices to rise. The Moving Average (MA) indicator is also indicating potential gains, as the current price is above the MA, which acts as a dynamic support to reinforce bullish momentum.
If the price can maintain its position above the breakout level and the MA continues to move upwards, EURUSD has the potential to strengthen towards the next resistance level. However, traders should monitor whether this price movement is supported by sufficient volume and confirmation from other indicators to ensure that this bullish trend persists.
Recommended
Recommended
Recommended
Recommended
The EURUSD shows potential for growth on the 15-minute time frame, supported by the Moving Average (MA) and MACD indicators. The current price is above the MA, indicating that a short-term bullish trend is beginning to form. Additionally, the MACD is presenting positive signals, with the MACD line starting to cross above the signal line, signifying an increase in buying momentum. If the price remains above the MA and the MACD histogram continues to strengthen, there is a chance for an upward move towards the resistance level of 1.08920.
Technical Reference: buy when above 1.087885
Potential Take Profit 1: 1.08720
Potential Take Profit 2: 1.08920
Potential Stop Loss 1: 1.08090
Potential Stop Loss 2: 1.07885
