Driven by the lower-than-expected U.S. Producer Price Index (PPI) data, the EUR/USD exchange rate oscillated higher and broke through the 1.1200 threshold. During the North American trading session, EUR/USD rose 0.25% and traded near 1.1200, indicating that short-term bullish momentum is gradually strengthening.
The EUR/USD has successfully broken through the psychological resistance level of 1.1200, forming a strong upward breakout pattern. The MACD indicator shows a golden cross formation, with the histogram turning from negative to positive, signaling a shift in momentum to bullish. In the short term, EUR/USD is expected to continue its upward momentum, with the primary target being the previous high of 1.1230. If this level is effectively breached, it could challenge the 1.1250–1.1275 area.
For support levels, 1.1180 serves as a key short-term support, followed by the 1.1150 zone.
you are currently struggling with losses, or are unsure which of the numerous trading strategies to follow, at this moment, you can choose to observe the operations within our channel.
The EUR/USD has successfully broken through the psychological resistance level of 1.1200, forming a strong upward breakout pattern. The MACD indicator shows a golden cross formation, with the histogram turning from negative to positive, signaling a shift in momentum to bullish. In the short term, EUR/USD is expected to continue its upward momentum, with the primary target being the previous high of 1.1230. If this level is effectively breached, it could challenge the 1.1250–1.1275 area.
For support levels, 1.1180 serves as a key short-term support, followed by the 1.1150 zone.
you are currently struggling with losses, or are unsure which of the numerous trading strategies to follow, at this moment, you can choose to observe the operations within our channel.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.