EUR/USD is currently hovering around 1.1340. A few hours ago, it briefly dipped below 1.1300 before forming a lower shadow and rebounding. Now, it is approaching the 200-hour moving average (red line), signaling a possible short-term recovery. The structure of the ADX and DMI suggests the beginning of a trend, and 1.1340 may be a key turning point—either a breakout or another rejection and decline.
The 50-hour moving average (blue line) was temporarily breached, but the price has since recovered above it, reflecting short-term buying interest. However, the 200-hour MA (red line) still acts as a resistance level, and the 1.1340–1.1350 range is a critical zone. If this area is not broken, selling pressure may increase.
The ADX (yellow line) is trending upward and currently sits around the 0.15 level, suggesting the trend is still in its early phase. The DMI configuration shows that +DI (green line) is clearly above -DI (red line), indicating short-term bullish momentum. If the ADX exceeds 0.20, a new upward trend targeting above 1.1370 may emerge.
Volume has slightly increased during the rebound, indicating some buying interest near the bottom. Particularly in the 1.1300–1.1320 support zone, buyers are active. Unless this zone is broken again, the short-term bullish trend may persist. However, a break below it could renew downward pressure toward 1.1280–1.1260.
※Image source: cTrader platform
Bullish Scenario (Upside Breakout)
Entry: Long after confirmed breakout above 1.1345
Take-Profit Target: 1.1370–1.1400
Stop-Loss: Below 1.1325
Bearish Scenario (Short on Rejection)
Entry: Short after confirming rejection near 1.1340
Take-Profit Target: 1.1300–1.1280
Stop-Loss: Above 1.1355
EUR/USD is in a short-term rebound phase, but whether it can break through the 1.1340–1.1350 resistance zone remains key. Considering moving averages, ADX, DMI, and volume, the market may be at the beginning of a new trend. A flexible strategy—long on breakout, short on confirmed rejection—can help control risk while capturing opportunities.
This article is for informational purposes only and does not constitute specific investment advice. All trading decisions should be made at your own discretion and responsibility.
For more updates and analysis on other currency pairs, please visit the FIXIO Blog.
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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