EURUSD Remains in Uptrend, Conversion Line Acting as Support【March 19, 2025】
Fundamental Analysis
The US-Russia meeting was held, but Russia showed reluctance toward a ceasefire in Ukraine.
EURUSD is aiming for 1.10USD, breaking above 1.09USD.
EURUSD Technical Analysis
Analyzing the EURUSD daily chart:EURUSD continues its uptrend as the conversion line serves as a support level. The pair has broken above 1.09USD.Although no immediate ceasefire was agreed upon during the US-Russia meeting, both parties reached an agreement to halt attacks on energy facilities for 30 days.
EURUSD is approaching the key psychological level of 1.10USD. If reached, profit-taking pressure is expected to increase.The price remains above the 200-day moving average, indicating that the uptrend continues.
The RSI is at 72, indicating slight overheating. However, no sell signal has appeared yet. It is advisable to be cautious with sell entries until the RSI drops below 70.
Day trading strategy (1 hour)
Analyzing the EURUSD 1-hour chart:EURUSD rebounded from the 52-period moving average and rose. However, it pulled back near 1.095USD.As EURUSD approaches 1.10USD, profit-taking pressure is expected to intensify.
For the day trading strategy, consider entering a short position on a pullback:
Sell limit around 1.12USD
Take profit at 1.095USD
Stop loss at 1.145USD
Support/Resistance lines
Key support and resistance lines to consider:
- 1.10USD – Psychological round number
Market Sentiment
EURUSD Sell: 71% / Buy: 29%
Today’s important economic indicators
Economic Indicators and EventsJapan TimeBank of Japan Monetary Policy Announcement11:30Japan Policy Rate Decision (Forecast: No Change)12:00Bank of Japan Press Conference15:30EU Consumer Price Index19:00US Crude Oil Inventories22:30US Interest Rate Outlook03:00 (next day)FOMC Meeting (Forecast: No Change)03:00 (next day)US Federal Reserve Chair Press Conference03:30 (next day)
*Trading advice in this article is not provided by Milton Markets, but by Shu Fujiyasu Jr., a certified technical analyst.
Risk Disclaimer
This analysis is for educational purposes only and does not constitute investment advice. Trading forex and CFDs involves significant risk and may not be suitable for all investors. Past performance is not indicative of future results.
This analysis is for educational purposes only and does not constitute investment advice. Trading forex and CFDs involves significant risk and may not be suitable for all investors. Past performance is not indicative of future results.
