Euro continues advancing towards bullish targets 5/4/2023

The Euro-dollar pair was able to trade positively during the previous trading session within the expected positive outlook during the last technical report, touching the first target to be achieved at 1.0965, recording its highest level at 1.0973.

Technically, and by looking at the chart, the simple moving averages continue to provide a positive motive that pushes the pair to provide more positivity, in addition to the clear positive momentum signs on the 14-day momentum indicator.

With the stability of intraday trading above the breached resistance 1.0920, and in general, above the strong support floor 1.0840, the bullish scenario remains valid and effective, continuing towards the third objective of the previous report 1.1020/1.1000, and the gains may extend later to visit 1.1060

From below, closing the 4-hour candle below 1.0840 increases the possibility of retesting 1.0740, Fibonacci 38.20%, before rising again.

Note: Trading on CFDs involves risks. Therefore, all scenarios may be possible. This article is not a recommendation to buy or sell but rather an explanatory reading of the price movement on the chart.

S1: 1.0840	R1: 1.1020
S2: 1.0740	R2: 1.1090
S3: 1.0650	R3: 1.1205