EURUSD maintained its upward bias and currently traded around 1.15972, reflecting strength in bullish momentum. The pair remains well-supported by the Ichimoku structure and continues to test key resistance areas.
Price action on the daily chart shows EURUSD pushing higher, with the current candle breaking above recent consolidation. The price remains above the Tenkan-sen and Kijun-sen, with the Kumo cloud providing a strong bullish base. The RSI reading of 64.66 supports ongoing bullish momentum, staying below overbought territory.
The resistance at 1.15814 has been slightly breached by current price action, suggesting a possible continuation if follow-through buying occurs. On the downside, support levels remain firm at 1.15571 and 1.13689 — both supported by recent price action and Ichimoku structure. As long as price remains above the cloud and short-term averages, the bullish outlook stays valid.
Market Observation & Strategy Advice:
1..Current position: 1.15972, trading slightly above key resistance.
2. Resistance: 1.15814, a key breakout zone now being tested.
3. Support: 1.15571 and 1.13689 remain significant zones for bullish defense.
4. RSI at 64.66 signals healthy upside momentum without overbought pressure.
5. Trading Strategy Suggestions:
- Breakout confirmation buy if price sustains above 1.15814 with target near 1.1650.
- Pullback buy opportunity near 1.1557–1.1560, aligned with Tenkan-sen and previous resistance turned support.
- Monitor momentum divergence in RSI and price for signs of reversal if breakout fails.
Market Performance:
Forex Last Price % Change
USD/JPY 145.50 −0.43%
GBP/USD 1.3552 +0.23%
Today’s Key Economic Calendar:
DE: Ifo Business Climate
CA: Inflation Rate YoY
US: Fed Chair Powell Testimony
Risk Disclaimer: This report is for informational purposes only and does not constitute financial advice. Investments involve risks, and past performance does not guarantee future results. Consult your financial advisor for personalized investment strategies.
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