EUR/USD has rebounded from a recent decline and is approaching the resistance level at 1.1364. Strong buying pressure is emerging in the short term, with the price pushing above the 50-period moving average. This analysis examines the current market setup and outlook using key indicators such as ADX, MACD, and moving averages.
Chart Source: cTrader
The ADX has surged significantly and is now approaching 60. This indicates strengthening trend momentum and suggests a higher probability of a near-term breakout.
The MACD line has crossed above the signal line, confirming a bullish crossover. The histogram is expanding into positive territory, signaling a clear momentum shift and supporting further upside potential.
While the 200MA is not displayed on the chart, the price has clearly broken above the 50MA (blue), indicating a short-term trend reversal.
Following a strong rally during the morning session of the 16th, the price temporarily broke above the 1.1364 resistance. A series of bullish candles and a break above recent swing highs indicate a structure that invites renewed buying interest.
Resistance: 1.1365, 1.1400
Support: 1.1320 (50MA), 1.1280
Entry: Below 1.1320
Take Profit: 1.1280
Stop Loss: Above 1.1370
Entry: Pullback buy at 1.1330–1.1340
Take Profit: 1.1380–1.1400
Stop Loss: Below 1.1320
EUR/USD has shown a strong rebound following a prior decline, with technical indicators pointing to a possible trend shift. Both ADX and MACD support the case for further upside. Traders should monitor for a sustained break above 1.1365 and consider buying on dips.
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This content is provided for informational purposes only and does not constitute
This article is intended for informational purposes only and does not constitute financial or investment advice. The analyses and strategies mentioned are based on past data and current market conditions, and may be subject to change in the future. When making investment decisions, always conduct your own research and consult a professional if necessary.
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