EUR/USD: Bullish Momentum Breaks Resistance, What’s Next?
Updated
The EUR/USD has been moving upward for the fourth consecutive day, with a clear uptrend forming on the chart.
Currently trading around 1.082, the pair has broken out of its previous downward channel, signaling a bullish shift. Additionally, the 34 EMA has successfully crossed above, reinforcing short-term bullish sentiment and encouraging investors to buy into the pair.
However, a bit more caution is advised before making long-term buys. The EUR/USD remains within a triangle pattern, suggesting it may need to retest the breakout level before fully confirming a sustained uptrend.
What’s your take? Should we go for a buy or sell today and in the days to come?
Currently trading around 1.082, the pair has broken out of its previous downward channel, signaling a bullish shift. Additionally, the 34 EMA has successfully crossed above, reinforcing short-term bullish sentiment and encouraging investors to buy into the pair.
However, a bit more caution is advised before making long-term buys. The EUR/USD remains within a triangle pattern, suggesting it may need to retest the breakout level before fully confirming a sustained uptrend.
What’s your take? Should we go for a buy or sell today and in the days to come?
Trade closed: target reached
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