EURUSD Set to Surge: Breakout from Double Bottom Neckline, MA and MACD Signal Bullish Trend!

The EURUSD currency pair is exhibiting upward momentum after successfully breaching the neckline of a double bottom pattern. This breakout indicates a strong potential for a bullish movement that could push prices higher in the near future.

A successful break of the neckline often leads to significant price increases. Currently, EURUSD is showing positive momentum, bolstered by the Moving Average (MA) indicator, which exhibits bullish signals. Additionally, the MACD provides further confirmation; with the MACD line positioned above the signal line, it indicates that the bullish momentum is strengthening.

ADS

Regulated

FBS

This company is verified and recommended for traders.

FBS: Cyprus 15 years MT4/MT5 Full Licence
Recommended

Regulated

OctaFX

OctaFX: Cyprus 13 years MT4/MT5 Full Licence
Recommended

Regulated

FXCM

This company is verified and recommended for traders.

FXCM: Australia 25 years MT4/MT5 Full Licence
Recommended

Regulated

MIFX MONEX

MIFX MONEX: Indonesia 24 years MT4/MT5 Full Licence
Recommended

In line with the one-hour chart analysis above, on the 15-minute chart, EURUSD also presents bullish opportunities, supported by the CCI indicator, which is currently in the oversold region, enhancing the chances for an upward trend. This sets the stage for EURUSD to target the resistance level at 1.04745.

Technical References: buy as long as it stays above 1.04020
Potential Take Profit 1: 1.04620
Potential Take Profit 2: 1.04740
Potential Stop Loss 1: 1.04120
Potential Stop Loss 2: 1.04020