EURUSD Next possible move

Dec 18, 2024

EURUSD

Here’s a detailed description for today’s bullish outlook in EUR/USD:



### **Title**
*"EUR/USD Intraday Analysis: Continued Buy Entry | Bulls Target Higher Levels"*

#### **Market Context**
*"EUR/USD sustains its bullish momentum as the U.S. dollar weakens on dovish Fed expectations. Positive sentiment around Eurozone economic resilience supports the pair’s upward movement."*

#### **Technical Analysis**
*"Key indicators favor a buy entry today:
- **Trend Structure**: Higher highs and higher lows confirm the ongoing bullish trend.
- **EMA Dynamics**: Price remains above the 20 and 50 EMAs, reinforcing buying momentum.
- **RSI**: Holding above 60, signaling sustained bullish strength.
- **MACD**: Positive histogram bars continue to expand, affirming upward pressure.

Key Levels:
- **Support**: 1.0570 (intraday), 1.0540 (key zone).
- **Resistance**: 1.0600 (immediate target), 1.0630 (critical level). A breakout above 1.0630 could accelerate gains."*

#### **News Context**
*"Upcoming: Eurozone GDP data and U.S. ISM Services PMI may add volatility.
Previous: Eurozone’s stronger-than-expected data and a weaker dollar fueled EUR/USD gains."*

#### **Call to Action**
*"Will EUR/USD extend its bullish run and challenge higher resistance levels? Share your thoughts and trade setups below!"*