The EURUSD has seen a strong rally in recent sessions, breaking through key resistance levels and continuing to post strong gains, reflecting a clear dominance of bullish momentum. This rally came after a period of sideways volatility, confirming a strong uptrend.
EURUSD Technical Analysis: Market Overview
General Trend: Strongly bullish after breaking through key resistance levels.
Strong Resistance: 1.1095 – 1.1125, which could form potential profit-taking areas.
Important Support: 1.1030 – 1.1060, where a rebound could occur in the event of a correction.
Economic Influences: The dollar has recently weakened due to expectations of easing monetary policy by the US Federal Reserve, which has reinforced the euro’s gains.
EURUSD Technical Analysis: Technical Indicators Analysis
Moving Averages
The price is trading above all moving averages (50, 100, and 200), supporting the uptrend.
MACD Indicator
Upward momentum is strong, but we notice some overbought conditions, which could lead to a short-term correction.
Stochastic Indicator
The indicator is in the overbought zone (above 80), increasing the likelihood of a temporary downward correction.
EURUSD Technical Analysis: Possible Scenarios
Bullish Scenario
- Continued stability above 1.1060 – 1.1030 will support a target of 1.1125 and then 1.1150.
- A break of 1.1125 could open the way for further upside towards 1.1180 – 1.1200.
Bearish Scenario
If 1.1060 is broken, we may witness a correction towards 1.1030, and if broken, the decline could extend to 1.1000.
Trading strategies based on Buy/Sell levels
| In case of buying | in case of selling | EURUSD |
| 1.11014 | 1.10736 | Entry point |
| First resistance: 1.11314 | First support: 1.10245 | Target Point 1 (TP1) |
| Second resistance: 1.11614 | Second support: 1.10125 | Target Point 2 (TP2) |
| 1.10736 | 1.11014 | Stop Loss (SL) |
The overall trend for EUR/USD remains clearly bullish after strong breaks through key resistance levels, reflecting increased buying momentum. However, the price reaching overbought areas on some technical indicators may trigger short-term corrections before resuming the uptrend.
