Bullish Potential of EURUSD Continues, Breaks High of Bearish Channel, Supported by MA and MACD

The EURUSD pair exhibits bullish signals after successfully breaking free from the bearish channel that had constrained its movement in recent sessions. The technical confirmation is strengthened by the price trading above the main Moving Average (MA) line, indicating a short-term trend shift towards positivity.

Moreover, the MACD indicator further supports the bullish momentum, characterized by a positive histogram and the MACD line crossing above the signal line.

Advertisements

Regulated

FBS

This company is verified and recommended for traders.

FBS: Cyprus 16 years MT4/MT5 Full Licence
Recommended

Regulated

OctaFX

OctaFX: Cyprus 14 years MT4/MT5 Full Licence
Recommended

Regulated

FXCM

This company is verified and recommended for traders.

FXCM: Australia 26 years MT4/MT5 Full Licence
Recommended

Regulated

MIFX MONEX

MIFX MONEX: Indonesia 25 years MT4/MT5 Full Licence
Recommended

Aligned with the hourly chart analysis above, the 15-minute chart of EURUSD also presents bullish opportunities as the price manages to breakout from the bearish channel with MACD endorsing potential further increases. This scenario could propel EURUSD towards the resistance level of 1.04690.

Technical Reference: buy while above 1.03350
Potential Take Profit 1: 1.04690
Potential Take Profit 2: 1.04510
Potential Stop Loss 1: 1.03700
Potential Stop Loss 2: 1.03500