Bollinger Bands Breakout & MACD Bullish: EURUSD Prepares for New Rally

Advertisements

Update: Friday, 24/01/2025 - 14:14 PM
678

The EURUSD currency pair is poised for further increases after successfully breaking out above the upper boundary of the Bollinger Bands, signaling a strong possibility of continued strength. The price movement that has breached this significant resistance level is reinforced by an increase in trading volume, indicating that buying pressure is prevailing in the market.

Moreover, the MACD indicator adds further confirmation by displaying a clear bullish signal. The MACD line is positioned above the signal line, while the histogram reflects a consistently growing positive momentum. The combination of the Bollinger Bands breakout and the bullish MACD signal fosters optimism among traders, with the potential for further rallies toward subsequent resistance levels.

Advertisements
FBS
Regulated
FBS
This company is verified and recommended for traders.
FBS: Cyprus 16 years MT4/MT5 Full Licence
Recommended
OctaFX
Regulated
OctaFX: Cyprus 14 years MT4/MT5 Full Licence
Recommended
FXCM
Regulated
FXCM
This company is verified and recommended for traders.
FXCM: Australia 26 years MT4/MT5 Full Licence
Recommended
MIFX MONEX
Regulated
MIFX MONEX: Indonesia 25 years MT4/MT5 Full Licence
Recommended

The EURUSD pair has consistently demonstrated stable strength on the 15-minute chart displayed above, operating within a steady bullish channel. This upward trend is further supported by the Moving Average (MA) trending upwards, confirming that the bullish momentum remains robust. The ongoing price position above the MA also signifies that buying pressure is dominating, presenting opportunities for this currency pair to continue rallying towards the resistance level of 1.04960.

Technical Reference: buy as long as above 1.04040
Potential Take Profit 1: 1.04800
Potential Take Profit 2: 1.04960
Potential Stop Loss 1: 1.04200
Potential Stop Loss 2: 1.04040

Leave a Reply

TOP Brokers
Saxo
Regulated
Saxo
This company is verified and recommended for traders.
Saxo: Hong kong 33 years Not MT4 /MT5
1

New Brokers
Estee Advisors
Unregulated
Estee Advisors: India 17 years Not MT4 /MT5
PMS
Unregulated
PMS
PMS: Hong kong 17 years Not MT4 /MT5
Emarket-24
Unregulated
Emarket-24
The company is still very new
Emarket-24: Cyprus 2 years Not MT4 /MT5
24 Exchange
Unregulated
24 Exchange: Bermuda 7 years Not MT4 /MT5