EUR/USD Bullish Momentum Above Moving Averages

Rendon1 Updated   
FX:EURUSD   Euro / U.S. Dollar

EUR/USD shows a continued upward movement, having broken above the 21, 50, and 200-period EMAs on the 4-hour chart. This bullish crossover, with the price sustaining above all EMAs, suggests strong upward momentum. The recent price action indicates the potential for continued growth, targeting the next resistance level.

Consider entering a long position if the price retests the EMAs, specifically around the 1.0950 area, confirming support.
- **Stop Loss**: A stop loss can be set below the recent swing low around 1.08865 to protect against a reversal.
- **Take Profit**: The first take profit target could be the recent high at around 1.10798 (or TP partially at the green lines, depends on the size) , with further targets set at psychological levels above.
- **Risk Management**: Adjust position size to maintain a risk-to-reward ratio that aligns with your trading plan, typically no more than 1-2% of your account on a single trade.

The EUR/USD pair's hold above key EMAs indicates a bullish outlook. Watch for price action signals for entry and maintain disciplined risk management as the pair approaches key resistance levels.
EURUSD is getting momentum but don't forget to TP your position partially.
First target 1.10160 reached. TP partially as always.

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X: @rendon1analyst (backtesting of the strategies)

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