EUR Shows Modest Increase in Trading
Updated
EUR/USD Pair Shows Modest Increase, Reaching Around 1.0860 in Early Asian Trading Session on Tuesday. The decline of the US Dollar (USD) has provided some support for this currency pair, with growing optimism bolstered by various technical indicators.
The upward momentum is being observed and reinforced in the form of new support levels, aligning with the EMA 34 and 89. As long as buyers maintain this support level, the scenario of price increase remains entirely plausible
The upward momentum is being observed and reinforced in the form of new support levels, aligning with the EMA 34 and 89. As long as buyers maintain this support level, the scenario of price increase remains entirely plausible
Note
Note
When you see the EMA 34 crossing above the EMA 89 on the chart, it indicates a short-term uptrend. Before these two lines actually cross in that direction, prices will be very volatile. However, prices tend to bounce back at the time of the cross. At that point, we should place a buy order to profit from the upcoming uptrend wave.
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