EURUSD Breakout Is This the Start of a Massive Bull Run or a Trap
EURUSD Breakout Is This the Start of a Massive Bull Run or a Trap
EURUSD Breakout Is This the Start of a Massive Bull Run or a Trap
EURUSD Breakout Is This the Start of a Massive Bull Run or a Trap
K Karthik Raja (Market Educator & Technical Analyst)
MCA | MBA | M.Com | MSc Psychology | PGJMC | CST | MDAT | CFA Pursuant Trend Analysis
- The EUR/USD pair has shown a strong upward movement, breaking above key moving averages.
- A golden cross formation indicates a continuation of bullish momentum.
- Higher highs and higher lows confirm a sustained uptrend.
Volume Analysis
- Recent price surges are backed by increasing volume, indicating strong buying interest.
- If volume remains high, the trend could continue; declining volume may signal a pullback.
Upcoming Events to Watch
- Key economic data releases like FOMC meetings, ECB rate decisions, and NFP reports could impact price action.
- Any surprise economic news or geopolitical tensions could trigger high volatility.
Observations
- RSI at 61.07 suggests room for further upside but is approaching overbought territory.
- Momentum at 100.77 confirms strong buying pressure.
- Resistance lies near 1.10, while 1.0750 serves as key support.
Final Takeaway
- Bullish sentiment remains strong, but a pullback is possible at resistance.
- Traders should monitor upcoming news events and key technical levels before entering trades.
Breakout Strategy (Bullish)
Entry: Buy above 1.0900 with high volume confirmation.
Stop Loss: Below 1.0750 (previous support).
Target: 1.10 - 1.11 resistance zone.
Breakdown Strategy (Bearish)
Entry: Sell below 1.0750 with bearish volume confirmation.
Stop Loss: Above 1.0900 (recent high).
Target: 1.06 - 1.05 support levels.
Disclaimer
This analysis is for educational and informational purposes only. It does not constitute financial advice. Always consult a professional before making investment decisions.
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