The EURUSD currency pair has successfully breached the upper boundary of a bearish channel, signaling a robust indication that the previous downward trend is reversing. Technical indicators such as the Moving Average (MA) and the MACD further corroborate this bullish potential, highlighting opportunities for additional gains.
Currently, the price has surpassed the 24-period MA, which serves as a crucial indicator for trend direction changes. Moreover, the MACD reflects a bullish crossover with its signal line moving above the zero line, complemented by a positive histogram that reinforces the bullish momentum.
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Alongside the hourly chart analysis, the 15-minute chart for EURUSD also offers a bullish outlook, as indicated by the CCI successfully rebounding from oversold territory, further enhancing bullish prospects. This movement could potentially drive EURUSD towards the resistance level at 1.04655.
Technical Reference: buy as long as the price remains above 1.03900
Potential Take Profit 1: 1.04535
Potential Take Profit 2: 1.04655
Potential Stop Loss 1: 1.04000
Potential Stop Loss 2: 1.03900
