Friday's bullishness helped push FX pair above 1.17200.
Economic Calendar Analysis
Increased volatility should be anticipated comparing to previous week.
EUR/USD hourly chart analysis
EUR/USD chart shows a strong bullish breakout followed by a healthy consolidation phase. The price recently exploded to the upside, establishing a clear short-term uptrend, and is now consolidating in a tight sideways range just below the 1.1750 high in what often forms a bull flag pattern. The bullish outlook is strongly confirmed by the indicators, as the price is trading well above its bullishly stacked moving averages. The MACD is also firmly in positive territory, with its histogram showing that while the explosive momentum has paused, the underlying trend remains bullish. The key resistance to watch is the recent high at 1.1750, with first major support lower around 1.1630. Given the pattern and strong indicators, a breakout above 1.1750 would signal a continuation of the uptrend.Hourly Chart
EUR/USD daily chart's review
Long-term trend for EUR/USD on the daily timeframe remains decidedly bullish, confirmed by the positive alignment of the 50, 100, and 200-day Simple Moving Averages. However, after peaking near the 1.1830 resistance level, this uptrend has paused, entering a corrective phase. The most significant recent development was a sharp pullback below the 50-day SMA, but buyers successfully defended the trend by pushing the price back above this key level. The ability of the pair to reclaim and now hold the 50-day SMA is a strong sign of resilience, suggesting the dip was a correction rather than a reversal.Daily chart
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Traders sentiment is bearish
Continuing the trend from previous weeks, from trading sentiment perspective EUR/USD maintains its bearish sentiment, driven by a mix of macroeconomic headwinds and evolving market expectations.