The EURUSD pair shows potential for a rise, supported by the technical indicators Moving Average (MA) and Moving Average Convergence Divergence (MACD). Currently, the price is trading above the 24-period MA, which acts as a dynamic support level and indicates that the bullish trend remains strong.
Moreover, the MACD indicator reveals positive momentum, with a strengthening histogram in the green zone and the MACD line positioned above the signal line. This situation reflects persistent buying pressure, creating opportunities for EURUSD to continue its ascent towards the next resistance level.
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The EURUSD has successfully broken through a bearish channel on the 15-minute timeframe, paving the way for a potential reversal to the upside. Additional signals come from the Stochastic indicator, which resides in the oversold region, suggesting a likely rebound in the imminent future. If the price can remain above the breakout level and Stochastic begins to rise from the oversold zone, the chances of further gains will significantly increase, testing the resistance at 1.9455.
Technical Reference: Buy as long as above 1.08700
Potential Take Profit 1: 1.09315
Potential Take Profit 2: 1.09455
Potential Stop Loss 1: 1.08840
Potential Stop Loss 2: 1.08700
