EURUSD Continues Uptrend, Surpasses Moving Averages to Reach Highest Point in a Month

Monday, 15 July 2024, 08:17

The EURUSD currency pair has seen a consistent upward movement following a significant bullish breakout from a descending trendline dating back to December 2023. Notably, the pair has successfully surpassed both the 50- and 200-day simple moving averages, achieving a new one-month high on Friday. This bullish momentum indicates strength in the EURUSD pair's performance.
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EURUSD Continues Uptrend, Surpasses Moving Averages to Reach Highest Point in a Month

EURUSD Surges to New High

The EURUSD pair is experiencing a sustained uptrend, with a notable breakthrough above its long-standing descending trendline.

Technical Analysis Highlights:

  • Breaking Moving Averages: EURUSD surpasses both 50-day and 200-day SMAs.
  • Bullish Momentum: Reaches highest point in a month.

The recent price action suggests a strong performance for the EURUSD pair, underpinned by the bullish breakout and moving average crossovers.


This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.


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