EUR/USD Trade Setup Chart Type: 1-hour chart Instrument: EUR/USD Current Price: 1.08813 Technical Patterns: Ascending Channel: The price moves within an ascending channel, with higher highs and higher lows indicating a bullish trend. Key Support: The lower boundary of the ascending channel, currently around 1.08709, acts as immediate support. Target Level: The upper boundary of the projection zone, around 1.09989, is a potential target if the bullish trend continues. Interpretation: The price is currently near the lower boundary of the ascending channel, providing a potential buying opportunity. If the support at 1.08709 holds, there is a strong chance for the price to increase towards the target at 1.09989. Traders should watch for a breakout above recent highs for confirmation of continued upward momentum.
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.