EUR/USD Analysis: Bullish Breakout Towards 1.09524

16 Mar

EUR/USD 30-Minute Analysis – Potential Bullish Breakout Towards 1.09524 📈
Key Observations:
Support Level: Around 1.08700, acting as a critical area for price action.
Resistance Zones: A key resistance area is visible around 1.09000 before reaching the target of 1.09524.
Moving Averages:
The 30 EMA (red) at 1.08747 is currently near price action, indicating short-term dynamic support.
The 200 EMA (blue) at 1.08601 suggests a broader trend still in transition.
Trendlines & Structure:
A downward trendline has been broken, and price is now retesting previous resistance-turned-support.
The expectation is a bounce from the support area leading to a potential bullish move.
Potential Trade Setup:
Bullish Scenario: If price holds above the 1.08700 support, a push toward 1.09524 could be expected.
Bearish Scenario: A failure to hold the support may indicate a return to the 1.08600 region.
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17 Mar

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target hit analysis