The EURUSD pair is showing strong potential for an increase as prices have successfully stabilized above the 24-period Moving Average (MA), which acts as a dynamical support. Maintaining this price level above the MA reflects an increasing dominance of buyers, indicating that the bullish trend is still intact. This MA line plays a crucial role in sustaining positive momentum, meaning that as long as prices do not breach this level, the likelihood of rising toward the next resistance level remains open.
Furthermore, the MACD indicator is also providing bullish confirmation with the MACD line positioned above the signal line, indicating a surge in buying momentum. The continuously increasing MACD histogram in the positive area also reflects ongoing buying pressure. The combination of MA and MACD signals suggests that EURUSD has a significant chance to continue its upward trend.
Recommended
Recommended
Recommended
Recommended
The EURUSD is demonstrating potential strengthening after breaking through the upper boundary of the bearish channel, suggesting a shift in momentum towards a bullish direction. This break signifies that buying pressure is starting to dominate the market, paving the way for EURUSD to continue rising toward the resistance level of 1.09300.
Technical Reference: buy as long as it stays above 1.086670
Potential Take Profit 1: 1.09215
Potential Take Profit 2: 1.09300
Potential Stop Loss 1: 1.08810
Potential Stop Loss 2: 1.08670
