The EUR/USD pair has developed a bullish structure, which may be testing and then rejecting the trend line as it creates a fresh entry. The first entry is 1.0470, and it’s possible that there may be another one very soon. If we are successful in getting another entry in a timely manner, our momentum will increase, and the trend should continue. In the event that the EUR/USD price continues to rise today.

1.04990 is support, while 1.05390 is a level of resistance. The Pivot Point at 1.05150 is placed between the lines of support and resistance, and the price is now below it. The EMA of 10 is moving in a bullish bias below the EMA100 and 200 moving in a bearish trend. The MACD histogram is in positive area with rising signals, and the RSI is moving toward high ranges. There is a rising movement in the Stochastic which is going toward the overbought area. There is a weak trend in the ADX.

• There is resistance at 1.05390, followed by resistance at 1.05550 and 1.05790.
• There is support at 1.04990 Below, there is 1.04750 and 1.04590.

Note: We do not suggest any investment advice, and these analyses are just to increase the traders’ awareness but not a certain instruction for trading.

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