The EURUSD pair continues its attempts to gain bullish momentum that might help it recover and rise again, amid the continuation of the positive support that comes from its trading above EMA50, which provides a dynamic support base that reinforces the stability and dominance of the bullish trend on the short-term basis, especially with its trading alongside minor trend line that supports this track, noticing the emergence of positive overlapping signals on the relative strength indicators after reaching oversold levels.
The pair’s price broke above the resistance level at 1.0915 in its latest trading, signaling a transition into a bullish trend, with the price beginning to record gains after reaching 1.1010.
MoreThe pair took advantage of its repeated stability above the 55-period moving average, forming new bullish waves and currently settling near the first additional target at 184.80, which may in turn form a temporary obstacle to the bullish advance.
MoreThe pair’s price continues to be influenced by positive pressure, forming new bullish waves and reaching 216.15, approaching the first main target at 216.35. We would like to highlight the importance of waiting for the price to break above 216.35 and maintain stability above it, which would confirm its transition into a new bullish phase and pave the way for targeting additional levels, starting at 216.85 and 217.55, respectively.
More