Yesterday, the EUR/USD currency pair successfully reached our predefined take profit level during a bullish rally. However, today the price is currently undergoing a retracement, taking some time to consolidate before potentially experiencing a new bullish impulse in line with the prevailing uptrend. Consequently, our analysis suggests exploring a long setup in anticipation of future price appreciation.
By considering a long position, traders and investors aim to profit from the anticipated upward movement in the EUR/USD exchange rate. We anticipate a resumption of the bullish trend, aligned with the overall market direction. It is important to closely monitor the price action and confirm the signs of a potential bullish continuation before entering the trade.