EURUSD Technical Analysis - 05.03.2025 - IST 6.50 PM
EURUSD Technical Analysis - 05.03.2025 - IST 6.50 PM
EURUSD Technical Analysis - 05.03.2025 - IST 6.50 PM
EURUSD Technical Analysis - 05.03.2025 - IST 6.50 PM
K Karthik Raja (Market Educator & Technical Analyst)
MCA | MBA | M.Com | MSc Psychology | PGJMC | CST | MDAT | CFA Pursuant
1. Chart Pattern
- The price recently broke out of a consolidation phase.
- A strong bullish breakout is observed with a steep upward movement.
- Prior to the breakout, the price was forming higher lows, indicating accumulation.
2. Trend Analysis
- The market transitioned from a downtrend to an uptrend with price trading above key moving averages.
- Sharp bullish movement with strong momentum.
- Price has broken previous resistance levels.
3. Dow Theory
- The trend shows a shift from lower highs and lower lows (downtrend) to higher highs and higher lows (uptrend).
- Break of previous swing high confirms trend reversal.
4. Moving Averages Insights
- 200-period MA (green): Previously acting as resistance, now broken.
- 50-period MA (orange) & 100-period MA (red): Price trading above both, confirming a bullish trend.
- Golden cross pattern observed (short-term MA crossing above long-term MA).
5. Upcoming Events
- Check for key macroeconomic events (e.g., US CPI, FOMC, ECB meetings) that might impact EUR/USD.
6. Observations
- RSI is above 79, indicating an overbought zone—potential for a short-term pullback.
- Momentum indicator at 102.76, confirming strong buying pressure.
7. Final Takeaway
- Short-term: Price may see a slight pullback due to overbought RSI.
- Medium-term: Bullish trend intact unless key support levels break.
- Long-term: Needs confirmation from fundamental data.
Breakout Strategy (Bullish)
- Entry: On a retest of the breakout level (~1.0650)
- Stop-loss: Below recent support (~1.0600)
- Target 1: 1.0750 (+70 pips) | Target 2: 1.0800 (+120 pips)
Breakdown Strategy (Bearish)
- Entry: If price fails to sustain above 1.0650 and closes below it.
- Stop-loss: Above 1.0700
- Target 1: 1.0600 (-50 pips) | Target 2: 1.0550 (-100 pips)
Conclusion
- Bullish momentum strong – buying on dips preferred.
- Risk management is key – avoid chasing the move.
- Keep an eye on US economic data and ECB comments for further direction.
Disclaimer: This report is for informational purposes only and should not be considered as financial advice. Please consult with a professional before making investment decisions.
Disclaimer: This report is for informational purposes only and should not be considered as financial advice. Please consult with a professional before making investment decisions.
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