EURUSD Ready to Stick Out For More Gain

EURUSD Analysis – Bulls Withstand Selling Moments

EURUSD is ready to stick out for more gain. The currency pair has been seen to have a strong buying impulse over the past few months, especially in March. The buyers have been forming higher highs and lows, despite some selling action seen on the daily chart. This buying momentum has continued to push the market toward the 1.11050 key zone. The Moving Average indicator is still showing a bullish trend as the price action is reacting to it. The MACD indicator also seems to be validating the bullish trend as buyers remain hopeful.

EURUSD Key Levels

Resistance Levels: 1.11050, 1.08200
Support Levels: 1.05460, 1.02410

This could indicate that the EURUSD will soon break out beyond the 1.11050 key zone and reach higher levels. Traders should be aware that the EURUSD is still facing some resistance and could struggle to break out beyond the 1.11050 key zone. However, if the buyers remain persistent and maintain their current buying momentum, there could be more gains to be achieved shortly.

The EURUSD pair is currently in a strong position for more gains, but buyers will need to remain persistent to break through the 1.11050 key zone. This level has proven to be a significant resistance level in the past, but with the right strategies and patience, traders can take advantage of this opportunity and potentially earn good profits. One method that traders can use is to closely monitor the price action around the 1.11050 level. If the price breaks through this level, it could signal a strong bullish move, and traders can enter long positions. However, if the price fails to break through, traders may want to wait for a pullback before entering any positions.

Market Expectation 

On the 4-hour chart, there appears to be interception as sellers are crossing in. However, the buyers still look out for more opportunities. As the new week unfolds, traders should anticipate a further move that will break beyond the 1.11050 key zone.

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