The movement of EURUSD on the 1-hour time frame indicates a strengthening bullish trend that is becoming increasingly solid. The formation of a neat bullish channel serves as a technical indicator that the price structure is in a healthy upward consolidation phase. Prices continue to fluctuate within the upper and lower bounds of the channel trending upwards, reflecting consistent buying pressure. The support provided by the Moving Average line, which remains positioned beneath the price, reinforces the belief that this upward trend still has room to continue.
In addition to the channel pattern, the MACD indicator also provides positive confirmation for the potential continuation of the bullish trend. The MACD histogram remains in positive territory, while the signal line trends upwards, indicating strengthening buying momentum. With these mutually supporting technical signals, EURUSD has a chance to continue its upward movement towards the next resistances, especially if there are no breakouts beneath the support channel.
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Price movement for Gold on the 15-minute time frame shows potential for further increases backed by solid technical support. The Moving Average (MA) line is positioned below the price and trending upwards, reflecting a still bullish short-term trend. Meanwhile, the MACD indicator also supports the positive sentiment with a strengthening histogram in the positive zone and a signal line that continues to trend upwards. The combination of these two indicators suggests that buying momentum remains dominant, opening opportunities for Gold to extend its rally in the short term to test 1,16930.
Technical Reference: buy while above 1.15330
Potential Take Profit 1: 1.16600
Potential Take Profit 2: 1.16930
Potential Stop Loss 1: 1.15680
Potential Stop Loss 2: 1.15330
