The EUR/USD pair regained its upward momentum during today’s session, supported by improved sentiment in the European market and mixed US data that influenced the dollar’s movement. The technical picture shows a strong rebound from a key support area near 1.1278, strengthening the chances of a continued uptrend in the near term.
Current Trading Rates
- Current Price: 1.1345
- Daily High: 1.1386
- Daily Low: 1.1337
- Overall Trend: Stable Upward
Technical Analysis for the Euro/Dollar (EUR/USD)
The H1 chart shows a clear support base forming near 1.1278 with a bullish breakout of the EMA and a clear bounce on the MACD and Stochastic indicators, supporting the positive outlook for today.
Important Technical Signals:
- MACD: Indicates renewed upward momentum with the beginning of a positive crossover, reflecting the return of buyers to the market.
- Stochastic Oscillator: Trading above the 80 area, indicating the strength of the current trend despite approaching overbought areas.
- 20- and 50-day EMAs: The price is trading above both averages, reinforcing the continuation of the uptrend.
Technical Outlook for Today
As long as the price holds above 1.1278, the uptrend will remain dominant, with a chance of breaking the 1.1384 resistance, which could open the way to 1.1437.
If the hold fails, the pair may retest the support at 1.1278 as a potential new buying zone.
Suggested Trading Strategy:
- Buy if 1.1384 is broken and holds above it.
- Targets: 1.1437 – 1.1480
- Stop Loss: Breaking 1.1278 with an H1 candle.
- Alternative Scenario: Sell if the price fails to break 1.1384, with a first target at 1.1278.
Trading strategies based on Buy/Sell levels
| EURUSD | In case of buying | in case of selling |
| Entry point | 1.13843 | 1.12788 |
| Target Point 1 (TP1) | First resistance: 1.14371 | First support: 1.12378 |
| Target Point 2 (TP2) | Second resistance: 1.14542 | Second support: 1.12212 |
| Stop Loss (SL) | 1.12788 | 1.13843 |
There is currently a technical consensus for a positive outlook for the EUR/USD pair, given strong buying signals and optimism for supportive decisions from the European Central Bank. With US data due in the coming sessions, it is advisable to exercise caution and monitor price action at nearby resistance levels.
