The bullish trend for the EURUSD pair continues to strengthen, showcasing a clear Higher High and Higher Low (HH-HL) pattern on the 1-hour timeframe. This formation underscores the increasing dominance of buyers observed in recent sessions. The upward momentum remains consistent, as evidenced by the upward trajectory of the Moving Average (MA) line and the zigzag pattern that builds a sequential upward structure. Such conditions indicate a solid bullish momentum, suggesting that the potential for a continued price rally remains very much alive.
From a technical indicator perspective, the MACD maintaining its position in the positive zone adds additional support to the upward movement of EURUSD. This signal strengthens the view that selling pressure is still limited, while buying interest remains robust. Should the HH-HL structure sustain and prices manage to keep above the nearest support area, the likelihood of EURUSD continuing its rally toward the next resistance level increases significantly.
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On the 15-minute chart, EURUSD demonstrates potential for further gains after the establishment of a solid bullish channel. Although the Moving Average (MA) appears to be flattening, its direction remains upward, indicating that buying pressure is beginning to strengthen again. Meanwhile, the CCI indicator, rebounding from an oversold area, provides initial signals of a new bullish momentum. The combination of these technical signals opens opportunities for EURUSD to rise further and test significant resistance around the 1.16080 mark.
Technical Reference: buy as long as above 1.15595
Potential Take Profit 1: 1.16000
Potential Take Profit 2: 1.16080
Potential Stop Loss 1: 1.15665
Potential Stop Loss 2: 1.15595
