The EURUSD pair has started to exhibit signs of a directional reversal after successfully breaking free from a bearish channel, suggesting a potential trend change. The upward movement of the Moving Average (MA) further strengthens the bullish signal, indicating that buying pressure is beginning to dominate the market. If the price can maintain its position above the nearest resistance level, further upward movement becomes increasingly likely. However, traders should remain vigilant regarding fundamental factors, such as economic data and central bank policies, which could influence the currency pair’s movements in the near future.
Recommended
Recommended
Recommended
Recommended
The EURUSD shows potential for an upswing after breaking through the bearish trendline, marking a significant directional shift. The MACD indicator also supports the positive sentiment, with the MACD line crossing above the signal line, confirming that bullish momentum is starting to build. On the 15-minute time frame, prices remaining above the key support level open up opportunities for further upward trends to test resistance at 1.08390.
Technical Reference: buy while above 1.07590
Potential Take Profit 1: 1.08260
Potential Take Profit 2: 1.08390
Potential Stop Loss 1: 1.07705
Potential Stop Loss 2: 1.07590
