EUR/USD Analysis: Upward or Downward Trend? Article Sponsored by CloseOption Broker

[Forum Admin]

 EUR/USD Analysis: Upward or Downward Trend? Article Sponsored by CloseOption Broker
 

 
The key support and resistance level ahead for EUR/USD is as follows:
• Third Key resistance level of EUR/USD: 1.05700
• Second Key resistance level of EUR/USD: 1.05275
• First key resistance level of EUR/USD: 1.05000
• First key support level of EUR/USD: 1.04562
• Second Key support level of EUR/USD: 1.04250
• Third Key support level of EUR/USD: 1.03435
 
EUR/USD Analysis: Upward or Downward Trend?
As mentioned in the previous analysis of the EUR/USD currency pair dated February 11, 2025, technical indicators suggested an upward potential in the chart. Ultimately, buyers successfully gained market control and drove the price higher.
Although the prevailing trend in long-term time frames such as monthly and weekly remains bearish, significant technical Symbols of a trend reversal have emerged on the chart, attracting the attention of high-risk buyers.
In shorter time frames like daily and 4-hour charts, the price has managed to break a descending trend line of two resistance points. However, it subsequently reached the critical resistance level of 1.05000. The price has repeatedly failed to breach this resistance level, resulting in a decline after each test (the latest test on the 24th led to the formation of a shooting star candlestick pattern).
In the current scenario, while the upward potential appears firmer, the first indication of a continued upward movement would be the price's stabilization above the key level of 1.05. If this occurs, buyers' following targets would be the resistance level 1.05275, followed by 1.05700.
Conversely, as long as the resistance level of 1.05000 holds in a downward scenario, the price can decline and correct toward the support levels of 1.04562 and further to 1.04250.
 

Trade Euro/USD on CloseOption 1.000$ Weekly Free Entry Trading Contest