The EUR/USD pair continues its upward trading trend at the beginning of this week, as the pair recorded its highest trading price so far at 1.05056 and its lowest at 1.04844, to currently trade at 1.04907. It is noted that the price movement is stable above the moving averages indicators, indicating the continuation of the upward trend in the short term.
Technical Analysis:
Technically, the MACD indicator shows strong positive signals, which reinforces the hypothesis of the continuation of the upward trend in the coming period. Trading prices above the moving averages indicates strong buying pressure in the market, reflecting traders’ preference for buying over selling at the present time. On the other hand, it is important to monitor the pair’s main support and resistance levels to identify potential reversal points.
Trading Expectations:
With the current upward trend continuing, the EUR/USD pair is expected to continue rising if prices continue to trade above the moving averages and are supported by technical indicators such as MACD. However, any short corrections that may occur should be monitored if the pair reaches strong resistance levels.
Trading strategies based on Buy/Sell levels
| EURUSD | In case of buying | in case of selling |
| Entry point | 1.05086 | 1.04557 |
| Target Point 1 (TP1) | First resistance: 1.05328 | First support: 1.04375 |
| Target Point 2 (TP2) | Second resistance: 1.05451 | Second support: 1.04212 |
| Stop Loss (SL) | 1.04557 | 1.05086 |
Based on current data and technical analysis, the general trend of the EUR/USD pair remains bullish.
with positive signals supporting it from technical indicators. It is recommended to continuously monitor market movements, especially as the pair approaches new resistance levels, as it may require re-evaluating strategies based on price developments.
