The EURUSD pair is displaying a strong possibility of further appreciation after receiving bullish confirmations from both the Moving Average (MA) and the Moving Average Convergence Divergence (MACD) indicators. Currently, the price is trading above the 24-period MA line, suggesting that an upward trend is forming. Additionally, the MACD histogram positioned in the positive zone, with the signal line trending upwards, further reinforces this bullish sentiment.
Nonetheless, it is advisable for traders to remain vigilant for potential corrections if the price approaches key resistance levels. Should the EURUSD maintain its position above the MA line and the MACD continues to exhibit positive momentum, the chances of extending the bullish trend will increase. Conversely, should the price dip below the 24-period MA, the bullish signals may lose their credibility.
Recommended
Recommended
Recommended
Recommended
The EURUSD shows indications of strengthening as the Moving Average (MA) indicator on the 15-minute chart gives a bullish confirmation. A steady price movement above the MA line indicates that buying momentum is prevailing in the short term. This scenario opens up opportunities for EURUSD to continue its ascent, especially if it manages to break through the resistance level of 2.887.
Technical Reference: buy if above 1.08160
Potential Take Profit 1: 1.08930
Potential Take Profit 2: 1.09060
Potential Stop Loss 1: 1.08315
Potential Stop Loss 2: 1.08160
