The EURUSD movement on the 1-hour chart is starting to exhibit signs of a trend shift from bearish to bullish. The primary signal of this directional change became evident when the price successfully breached a key resistance area that had previously impeded upward movement (indicated by a blue line). This breakout indicates that buyers are starting to take control of the market after a prolonged period of selling pressure. The price increase, coupled with the emergence of a new resistance level and progressively higher lows, suggests that the price structure is forming a healthier upward pattern.
From a technical perspective, the strengthening signal is further reinforced by the ZigZag indicator and the Moving Average (MA), which are both trending upward, mirroring the movement of the MACD that has entered positive territory. The combination of these three indicators indicates that buying momentum is becoming more robust, creating opportunities for the EURUSD to continue strengthening towards the next resistance area. As long as the price remains above the breakout area and does not fall back below the minor support level, the potential for a continued bullish trend remains strong in this evening’s US session.
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The EURUSD is displaying strengthening signals after it successfully broke through the upper boundary of the bearish channel on the 15-minute chart, indicating the potential beginning of a short-term reversal. The sharply rising Moving Average (MA) reinforces the bullish momentum, while the price structure forming an initial upward pattern suggests that buyers are beginning to take control. This combination of technical signals opens up the potential for EURUSD to continue its climb and test the resistance area around the 1.16100 level.
Technical Reference: buy as long as above 1.15330
Potential Take Profit 1: 1.15980
Potential Take Profit 2: 1.16100
Potential Stop Loss 1: 1.15495
Potential Stop Loss 2: 1.15330
