EUR/USD Bulls Appear in Control – Likely To Move Above 1.19000 Mark

#OPINIONLEADER# #Signal#

ByLCMS Traders FX Analysis Team

 JUL 12, 2021

EUR/USD is trading almost unchanged at 1.1871 with the presence of a bullish Doji on the weekly chart. The immediate support levels are at 1.1844 and 1.1823 while the intraday resistance levels are at 1.1890 and 1.1927.

On the daily charts, the pair is currently trading near the SMA-14 (1.1873) and a breach above this level is likely to send the pair higher. The SMA-14 resistance area is at 1.2053 while the RSI has come up to 40 and has an upwards curve. The mid-Bollinger band is at 1.1890, the upper and lower bands are at 1.2037 and 1.1758. Considering the intraday and 4-hourly price patterns, the pair is good to buy at dips using the following levels.

Direction: Buy

Entry: 1.1840

Take Profit: 1.1910

Stop-Loss: 1.1805

An intraday closing near or above 1.1900 would be ideal for the bulls to extend the bullish rally and move towards challenging the 1.12000 mark. On the downside, bears require a sustained price below 1.1820 to get some control.