The EURUSD is trading today at the 1.1157 level, and continues to maintain a positive performance in the financial markets. This performance is reinforced by the pair continuing to trade above the major moving averages’ intersections, indicating strong support in the upward direction. The MACD indicator also confirms the continuation of the buying power, which is a strong indicator of the possibility of achieving more gains in the coming days.
Technical Analysis of the EURUSD: Technical Outlook
By reviewing the technical chart, we notice that the EUR/USD pair is trading steadily above the moving averages, especially the 50 and 100-day averages, indicating clear support in the upward direction. This strong movement enhances the buying momentum and reduces the chances of a major decline at the present time.
The MACD indicator indicates the strength of the buying momentum, as the ascending line continues to move above the descending line with sufficient distance between them, indicating the continued dominance of the buying power in the market movement. This positive indicator enhances the chances of a continued rise in prices.
Indicators Expectations
- MACD Indicator: Indicates continued buying power, which enhances the possibility of a continued upward trend.
- Moving Average Indicators: Confirming the ascending support, with the price above the intersection of the 50 and 100-day averages, which enhances the chances of further increases in the short term.
Trading strategies based on Buy/Sell levels
| In case of buying | in case of selling | EURUSD |
| 1.1167 | 1.1145 | Entry point |
| First resistance: 1.1197 | First support: 1.1115 | Target Point 1 (TP1) |
| Second resistance: 1.1237 | Second support: 1.1085 | Target Point 2 (TP2) |
| 1.1145 | 1.1167 | Stop Loss (SL) |
the EURUSD appears to have strong positive momentum supported by continued trading above the major moving averages. The MACD indicator indicates continued buying power, which increases the chances of achieving further gains. The 1.1100 level remains as strong support in case of any minor pullbacks, while the overall outlook remains positive with the possibility of achieving additional gains in the coming period.
