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Forex Market Analysis

EUR/USD on a Bullish Run – Is It Going After 1.085?

The EUR/USD pair is trading with a bullish bias, bouncing off above 1.0640 level to trade at 1.0770 on the daily timeframe. Technically, the EUR/USD pair seems ready to show a bullish correction until 1.0990, but we can’t take the risk of holding swing trade considering the volatile nature of the market these days. 

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So it’s better to open quick forex trading signals for 40/50 pips and then take profit to enter the next trade. Well, with that being said, I have opened a buying trade in the EUR/USD at 1.07839 with a stop loss of 1.07439 and a take profit of 1.08239. 


EUR/USD – Daily Technical Levels

Support Resistance 

1.0615     1.0809

1.0529     1.0917

1.0335     1.1111

Pivot Point 1.0723

On the daily chart, the EUR/USD’s MACD is holding in the oversold zone, suggesting strong bullish correction chances. Alongside this, the EUR/USD pair has also formed a Doji candle around 1.0700, which is followed by a strong bearish trend. 

Such a pattern shows indecision among traders and typically drives bullish reversals in the market. The EUR/USD may find support around 1.0700, while resistance is likely to be found around 1.0900 and 1.099 today.

EUR/USD Trading Signal

Entry Price:  1.07839

Stop Loss: 1.07439

Take Profit 1.08239

R/R Ratio 1:1

Good luck! 

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