EURUSD LONG

EUR/USD Trade Setup
Chart Type: 1-hour chart
Instrument: EUR/USD
Current Price: 1.08813
Technical Patterns:
Ascending Channel: The price moves within an ascending channel, with higher highs and higher lows indicating a bullish trend.
Key Support: The lower boundary of the ascending channel, currently around 1.08709, acts as immediate support.
Target Level: The upper boundary of the projection zone, around 1.09989, is a potential target if the bullish trend continues.
Interpretation: The price is currently near the lower boundary of the ascending channel, providing a potential buying opportunity. If the support at 1.08709 holds, there is a strong chance for the price to increase towards the target at 1.09989. Traders should watch for a breakout above recent highs for confirmation of continued upward momentum.