EUR/USD PRICE ANALYSIS: TESTS THE UPPER BOUNDARY AROUND THE LEVEL OF 1.0800... Wulan Viana から-フォローミートレーディングコミュニティ

14 May 2024, 15:17 · Views 132

EUR/USD could test the upper boundary of the symmetrical triangle.
Breaking above the upper boundary could potentially shift momentum toward a bullish trend.
A breach below the 14-day EMA at 1.0752 could prompt the pair to test the psychological threshold of 1.0700.

EUR/USD has recovered its recent gains registered in the previous session, trading around 1.0780 during the Asian session on Tuesday. From a technical perspective, analysis indicates a sideways trend for the pair as it continues to lie within the symmetrical triangle. A surpassing of the upper boundary could shift the momentum toward a bullish trend.

However, the momentum indicator Moving Average Convergence Divergence (MACD) indicates an upward momentum for the EUR/USD pair. While it is positioned above the centerline, there is a divergence observed above the signal line. If the signal line crosses over the centerline, it would reinforce the bullish sentiment.

The EUR/USD pair faces an immediate barrier at the upper boundary of the symmetrical triangle aligned with the psychological level of 1.0800. A break above this level could support the pair to test April’s high of 1.0885.

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