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EURUSD Price Analysis: Bullish Trend Expected

by Daisy

The EURUSD currency pair has shown a continued upward movement, breaking through the $1.0895 level and closing the daily candlestick above this mark. This development halts the previous correctional bearish trend and indicates a resumption of the main bullish trend within the ascending channel visible on the chart. The next target is set at $1.1015, suggesting further gains.

In the coming sessions, we anticipate a continued rise, bolstered by the support of the EMA50. However, if the price falls below $1.0865, this would invalidate the bullish outlook and could trigger a new bearish correction on an intraday basis.

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Expected Trading Range

Support: $1.0850

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Resistance: $1.1000

Trend Forecast

Bullish

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