Economic Calendar Analysis
Volatility may arise, considering fundamental data releases this week.
EUR/USD hourly chart analysis
The price is showing a slow and steady decline, potentially continuing towards the 1.16300 level, with further downside risk extending to 1.15750 in the short term. This bearish momentum is supported by the fact that the price is currently trading below key simple moving averages — the 50-period, 100-period, and 200-period — indicating continued downward pressure. However, a bullish reversal remains possible if buyers regain control and manage to push the price above current resistance levels. In such a scenario, a move toward the 1.18000 resistance level could occur, especially if supported by positive market sentiment or fundamental catalysts.Hourly Chart
EUR/USD daily chart's review
The resistance level at 1.1200 has been breached. This breakout suggests that the price could continue its upward trajectory in the near term, with the next significant target being 1.22000. Traders and analysts will likely be monitoring this level closely, as it could indicate continued strength in the market and potentially lead to further gains if buying pressure persists.Daily chart
Read More: Technical Analysis
Traders sentiment is bearish
Continuing the trend from previous weeks, EUR/USD maintains its bearish sentiment, driven by a mix of macroeconomic headwinds and evolving market expectations. Persistent concerns over the Eurozone's economic outlook, coupled with stronger U.S. data supporting the dollar, have kept the pair under pressure.