EURUSD: The Price Reversal from Support

I would say that the market looks bullish and it is more interesting for buying.

The price reached the support zone formed by SMA50, SMA100, and the uptrend line. We got a bullish candle confirming the price reversal. MACD histogram confirmed the price reversal.
Today, the market tries to move back to the main uptrend line, and probably we will see an attempt to break this support zone.

If the support zone can stop sellers, we will be able to get another reversal signal from the daily timeframe, which will be used as a buy signal as well.

MACD histogram is going to support the upward movement. DMI does not tell us about the strength of sellers. It means that we can search for buy opportunities using the daily and lower timeframes.



Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.