Economic Calendar Analysis
No significant economic news should be anticipated.
EUR/USD hourly chart analysis
Significant consolidation at 1.0300 price level has occurred at one hour chart. If bullish momentum does not materialize to reverse the trend, it is likely that the pair will continue moving downward. In that case, further declines could bring the price towards the 1.0000 level, where additional support may be tested. The persistence of negative market sentiment or lack of upward movement could reinforce this downward trajectory.Hourly Chart
EUR/USD daily chart's review
The daily chart suggests that the second part of 2024 has been trading within a descending channel. On the daily chart, the 1.05240 price level should be considered as the resistance level, which could potentially bring a momentum shift towards more bullishness. Current price levels are still significantly lower than the 50-period, 100-period, and 200-period simple moving averages.Daily chart
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Traders sentiment mixed
From a volume standpoint, the EUR/USD pair has seen more bullish volume, and bullish trading bias has emerged from traders.