The EURUSD movement is starting to display signs of a directional change after the price successfully broke through a key resistance zone on the 1-hour chart, indicating a fresh buying momentum in the market. The price structure is now forming a higher high pattern, suggesting a decrease in selling pressure, while the upward-turning ZigZag further reinforces initial signals of a trend reversal. The upward trend of the Moving Average (MA) also serves as additional confirmation that short-term sentiment is beginning to favor buyers. The increase in buying volume after breaking through the resistance reflects the growing optimism among market participants regarding the potential for continued strength.
From a technical standpoint, the MACD indicator, which is currently in the positive territory, adds validation to the prospects of a short-term strengthening of EURUSD. The combination of the breakout at the resistance area, rising MA, and positive momentum from the MACD indicates that buying pressure is starting to dominate. As long as the price manages to stay above the breakout level, the opportunity for upward movement to test subsequent resistances remains significant, especially with market conditions indicating a shift towards bullish sentiment.
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On the 15-minute chart, EURUSD is also showing signs of strengthening after successfully breaking through the upper boundary of a bearish channel, suggesting an initial potential reversal from the downward trend toward a new uptrend during today’s European session. The sharp rise in the MA strengthens the bullish signal, while the price structure that is starting to form an initial upward pattern indicates that buyers are beginning to take control. If this momentum continues, EURUSD could further strengthen to test the nearest resistance around the 1.15650 level.
Technical Reference: buy while above 1.15000
Potential Take Profit 1: 1.15550
Potential Take Profit 2: 1.15650
Potential Stop Loss 1: 1.15110
Potential Stop Loss 2: 1.15000
