EURUSD Keeps Getting Stronger

EURUSD Analysis – Buyers Keep Making Extra Gains

EURUSD keeps getting stronger as buyers make serious gains. The market has experienced a series of interesting moves in the past week. The bulls have been on a remarkable run, achieving a solid breakthrough above the 1.10600 market level. The buyers have maintained this momentum, pushing the currency pair further up in the market.

The EURUSD market has been trading sideways between the key levels of 1.10600 and 1.05220 since the beginning of this year. However, the recent breakout of the bulls has led to a surge in buying power, and traders should expect more of this trend in the coming weeks.

EURUSD Key Levels

Resistance Levels: 1.10600, 1.08490
Support Levels: 1.06750, 1.05220

Due to the expected market volatility, traders should be prepared to adjust their strategies to keep up with the market’s movements. It’s also essential to be aware that the market could easily reverse, potentially resulting in significant losses. Therefore, adopting a cautious approach and implementing risk management strategies are crucial to minimize potential losses.

The bulls have been pushing the market beyond the 1.10600 key zone, and the bullish trend appears to be continuing. Traders should be mindful of the potential for a pullback to the available key levels before the bullish trend resumes. This is evidenced by the MACD (Moving Average Convergence and Divergence), which shows that the bullish histogram is still expanding and hasn’t reached its climax.

Market Expectation

On the 4-hour chart, the bulls are firmly in control of the market, suggesting there are plenty of opportunities for traders to enter as buyers. As the bulls continue to dominate the market, traders should keep an eye out for opportunities to join the bullish trend as buyers.