European session, Date: 07/15/2024
Introduction and overview
The EUR/USD pair started the third week of July with a bearish price gap, attracting the attention of technical analysts and traders. After closing at 1.0905 and reaching its lowest level at 1.0804 last week, technical analysis indicates the possibility of a continuation of the rise. The EUR/USD pair opened this week with a bearish price gap, closing last week at 1.0905. The highest price it reached last week was 1.0910 and the lowest price was 1.0804. Despite the bearish price gap that the pair witnessed at the opening of this week, the Euro did not cover this gap, indicating the possibility of a return to the upside. The EUR/USD pair is currently trading at the 1.0888 area, above most moving averages, which enhances the possibility of a continuation of the uptrend. The MACD indicator also clearly supports this trend, as it shows a continuation of the upward trend.
Trading strategies based on Buy/Sell levels
| In case of buying | in case of selling | EURUSD |
| 1.0893 | 1.0882 | Entry point |
| First resistance: 1.0910 | First support: 1.0867 | Target Point 1 (TP1) |
| Second resistance: 1.0935 | Second support: 1.0845 | Target Point 2 (TP2) |
| 1.0882 | 1.0893 | Stop Loss (SL) |
Conclusion
It seems that the EUR/USD pair is on its way to compensate for the downward price gap with which it opened the week, as technical data indicate a continuation of the upward trend. Traders must carefully monitor the pair’s movement and make decisions based on technical analysis to ensure that they benefit from the expected trends.
