EURUSD Technical Analysis: Today, the EUR/USD pair is witnessing bullish movements as the pair continues to consolidate its gains throughout the current trading session. While the pair records its highest price so far at 1.0544 and its lowest price at 1.0421, its current price is trading at 1.0505. This bullish trend reflects the positive market trend and enhances the optimism in the short term.
EURUSD Technical Analysis: Trading Price Analysis
By looking at the price action, we notice that the pair is trading above the main moving averages, indicating the continuation of the bullish trend in the short term. As the price is above the moving averages, it is considered a strong indicator of bullish momentum in the market, and enhances the chances of this trend continuing in the coming period.
Technical Analysis Using Moving Averages:
Technical analysis shows that the pair maintains its trading above the moving average, which enhances the possibility of continuing the bullish movement in the short term. The moving average also acts as a major support level in the event of any declines, which contributes to supporting the current bullish trend.
MACD Analysis:
MACD also supports the bullish trend, as its signal shows strong positive momentum in the market. The MACD line crossing above the signal line confirms that the price action is heading towards the upside, which enhances the possibility of continuing the bullish movement in the near term.
Trading Expectations:
Based on the current technical analysis, the EUR/USD pair is expected to continue moving upwards in the short term.
while monitoring key technical levels such as 1.0550 and 1.0600. The pair may face some price fluctuations near these levels, but current indicators indicate positive momentum supported by the bullish trend.
Trading strategies based on Buy/Sell levels
| EURUSD | In case of buying | in case of selling |
| Entry point | 1.0521 | 1.0477 |
| Target Point 1 (TP1) | First resistance: 1.0544 | First support: 1.0461 |
| Target Point 2 (TP2) | Second resistance: 1.0576 | Second support: 1.0451 |
| Stop Loss (SL) | 1.0477 | 1.0521 |
The EUR/USD pair is in a strong uptrend supported by moving averages and a positive MACD signal. This upward movement is likely to continue in the short term.
with any changes in momentum that could indicate a possible correction in the near future being monitored.
