EURUSD NEXT POSSIBLE MOVE

EURUSD

**EUR/USD Technical Analysis – February 24, 2025**

As of February 24, 2025, the EUR/USD pair is trading near the 1.0515 level, experiencing upward momentum following recent market developments.

**Key Levels:**
- **Resistance:** 1.0530, 1.0550
- **Support:** 1.0480, 1.0450

**Technical Indicators:**
- **Relative Strength Index (RSI):** The RSI is approaching overbought territory, indicating strong bullish momentum.
- **Moving Averages:** The pair is trading above both the 100 and 200 simple moving averages on the 4-hour chart, suggesting a continuation of the upward trend.

**Trade Recommendation:**
Considering the current technical setup, a **buy** position may be appropriate if the price breaks above the 1.0530 resistance level.

- **Entry Point:** Buy at 1.0540
- **Take Profit (TP):** 1.0600
- **Stop Loss (SL):** 1.0510

**Risk Management:**
This trade setup offers a reward-to-risk ratio of approximately 2:1. Ensure that your position size aligns with your risk tolerance and overall trading strategy.

**Conclusion:**
The EUR/USD pair is currently exhibiting bullish signals, influenced by recent market events such as the German election results. A sustained move above the 1.0530 resistance level could validate a buying opportunity. Traders should monitor price action closely and adjust their strategies accordingly.

*Disclaimer: Trading forex carries a high level of risk and may not be suitable for all investors. Ensure you fully understand the risks involved and seek independent advice if necessary.