Bullish Breakout! MA and MACD Indicators Support EUR/USD towards Higher Levels

The EUR/USD currency pair has successfully emerged from its bearish channel, signaling a robust bullish indication for an ongoing upward trend. This upward movement is bolstered by the rising Moving Average (MA) and the MACD indicator, which suggests that the bullish momentum is gaining strength.

Breaking above previously established resistance levels enhances the optimism that this currency pair is poised to reach higher levels. Traders are now directing their attention to the next resistance zone.

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Aligned with the hourly chart analysis illustrated above, the 15-minute chart of EUR/USD also presents bullish opportunities as backed by the CCI rebounding from the oversold region, further increasing bullish prospects. This sets up the potential for EUR/USD to approach the resistance level of 1.04785.

Technical Reference: Buy as long as it stays above 1.04100
Potential Take Profit 1: 1.04680
Potential Take Profit 2: 1.04785
Potential Stop Loss 1: 1.04235
Potential Stop Loss 2: 1.04100