EURUSD Technical Analysis: Uptrend

EURUSD Technical Analysis: The EUR/USD pair is witnessing an upward movement during today’s trading, as the pair recorded its highest price so far at 1.0432 and its lowest price at 1.0294, and the price is currently trading at 1.0416. This movement reflects a continuous upward trend in the market, highlighting the strong support at higher price levels.

EURUSD Technical Analysis: Technical Analysis

  • Moving Averages: Technical analysis shows that the price is currently trading above the short- and long-term moving averages, which reinforces the upward trend and reflects strong buying pressure in the market. This indicates the continuation of the upward trend in the short and medium term.
  • MACD Indicator: The MACD indicator is showing clear positive signs, as it continues to move above the signal line, reflecting bullish momentum in the market. This indicates the possibility of continuing the upward trend as long as the indicator remains in this positive area.

Trading Outlook:

  • Under these conditions, the pair is expected to continue rising towards new resistance levels, targeting prices that may reach 1.0450 or even 1.0500, provided that support signals from the moving averages and the MACD indicator continue to be confirmed.
  • However, prices may face some volatility near key resistance levels, and in case of any pullback, the pair is likely to find support near 1.0300 or 1.0250 levels.
EURUSD Technical Analysis

Trading strategies based on Buy/Sell levels

EURUSD In case of buying in case of selling
Entry point 1.0435 1.0372
Target Point 1 (TP1) First resistance: 1.0461 First support: 1.0351
Target Point 2 (TP2) Second resistance: 1.0482 Second support: 1.0341
Stop Loss (SL) 1.0372 1.0435

 

The overall trend for the EUR/USD pair remains bullish at the moment, with the technical indicators continuing to show positive signals. This is an indication of the strength of the market and its support for the rise in the near term, but it is important to monitor the key resistance levels that may affect the continuation of the uptrend.

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