The EURUSD pair is displaying robust upward momentum on the 1-hour timeframe, remaining firmly on a bullish trajectory despite experiencing brief corrective pressures. Following this short-term decline, the price has effectively regained its momentum, establishing a pattern of higher highs and higher lows, indicating that buyers are still in complete control. This pattern illustrates that any weakness is perceived as an accumulation opportunity by market participants, thereby maintaining a strong upward structure.
Technical signals also support the continuation of this bullish trend. The ZigZag indicator has formed a new higher low, corresponding with price touches in the Moving Average area, suggesting a strong potential for a rebound. Furthermore, the MACD, which remains in positive territory, reinforces that the momentum flow continues to favor upward movements. The synchronization between price structure and technical indicators enhances the likelihood of EURUSD continuing its upward rally.
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On the 15-minute timeframe, EURUSD is also exhibiting strength within a clear bullish channel that defines its upward movement. The Moving Average is consistently rising, reflecting stable short-term trend momentum, while the ZigZag in an upward trend further underscores buyer dominance. As long as prices remain within this channel, EURUSD has the potential to continue strengthening and test the nearest resistance level at 1.17710.
Technical Reference: Buy if above 1.16875
Potential Take Profit 1: 1.17580
Potential Take Profit 2: 1.17710
Potential Stop Loss 1: 1.17020
Potential Stop Loss 2: 1.16875
