EUR/USD Bulls Breakout! Is 1.1080 the Next Stop?
Alright traders, let's dive into this EUR/USD daily chart and break down the current market structure. So, check it out—EUR/USD has been riding a nice uptrend lately, with price breaking out above that key 1.09018 resistance level. This breakout is significant because it cleared that long-standing resistance, and now we're seeing some strong bullish momentum. Price is well above the 21 EMA and the 200-day EMA, which further confirms the bullish trend.
Now, what’s interesting here is that we’ve got a clean break with price pushing towards the 1.10800 level, which could be our next major resistance zone. If the bulls maintain control and we see continued momentum, a test of that 1.10800 level seems likely. But remember, the market loves to retest broken levels, so don’t be surprised if we see a pullback towards 1.09018 for a potential buy opportunity. Stay sharp, keep your eyes on those key levels, and let’s see if the bulls can keep the party going!
Now, what’s interesting here is that we’ve got a clean break with price pushing towards the 1.10800 level, which could be our next major resistance zone. If the bulls maintain control and we see continued momentum, a test of that 1.10800 level seems likely. But remember, the market loves to retest broken levels, so don’t be surprised if we see a pullback towards 1.09018 for a potential buy opportunity. Stay sharp, keep your eyes on those key levels, and let’s see if the bulls can keep the party going!
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.