The EUR/USD pair has made a strong start in recent hours, driven by a weaker US dollar, increased risk appetite in global markets, and improved European economic indicators. The hourly (H1) chart shows strong positive signals supporting the continuation of the upward trend during today’s trading.
Current Price and Market Profile
- Current Price: 1.15430
- General Trend: Clearly Bullish
- Nearest Resistance: 1.15835
- Nearest Support: 1.14574
A Clear Break of the Consolidation Zone
Indicators Confirm Strong Upward Momentum
The Road to New Levels is Open
Technical Analysis for the EUR/USD Pair
General Trend:
The pair is moving in a steady upward direction, after a strong breakout of an important resistance area at 1.1457, which has turned into support, enhancing the likelihood of the trend continuing in the coming hours.
Technical Indicators:
- MACD: Positive and bullish, reflecting accelerating buying momentum.
- Stochastic Oscillator: In overbought areas (>90), indicating a potential short-term correction.
- Moving Averages: The price is above the 50, 200, and 20-day moving averages, a strong confirmation of the uptrend.
Technical Outlook for Today
The pair is expected to continue its upward trend if the price stabilizes above 1.1540, with a potential target of 1.1583 and then 1.1646, especially in the event of negative US data or further weakness in the dollar index.
Positive Scenario: Continued upward trend towards 1.1583 and then 1.1646.
Alternative Scenario: A slight downward correction to test 1.1457 before resuming the upward trend.
Trading strategies based on Buy/Sell levels
| EURUSD | In case of buying | in case of selling |
| Entry point | 1.15835 | 1.14574 |
| Target Point 1 (TP1) | First resistance: 1.16466 | First support: 1.14027 |
| Target Point 2 (TP2) | Second resistance: 1.16666 | Second support: 1.13900 |
| Stop Loss (SL) | 1.14574 | 1.15835 |
The EUR/USD pair appears poised for further gains, supported by strong momentum and clear positive indicators in the short term. With no significant technical obstacles, any pullback represents a potential buying opportunity, provided it holds above 1.1450. Traders are advised to monitor price action near 1.1540 and 1.1580 as key indicators for today’s movement, especially with the upcoming Federal Reserve statements that could directly impact the dollar.
