EUR/USD saw slight move to the below 1.15000 before seeing a close above 1.15660.
Economic Calendar Analysis
Volatility levels may be impacted by fundamental data releases overall during the full week.
EUR/USD hourly chart analysis
The price is trading strongly above all three Simple Moving Averages, indicating positive momentum. The 50-SMA is acting as immediate support around 1.1550. The price is currently testing immediate resistance at 1.1580. A break above this level would confirm the bullish trend, while a fall below 1.1550 would be a sign of weakness.Hourly Chart
EUR/USD daily chart's review
EUR/USD on the daily chart is trading around 1.1564, just below the 50-SMA near 1.1660 and above the 200-SMA around 1.1350. The 50-SMA is flattening, suggesting weakening short-term bullish momentum, while the 100-SMA near 1.1580 acts as key near-term resistance. Price has been consolidating between 1.14 support and 1.16–1.18 resistance since June. Recent rallies stalled near 1.1600, with buyers stepping in around 1.14. A break above 1.1600 and the 50-SMA would signal a bullish move toward 1.1830, while a drop below 1.14 and the 200-SMA could push the pair down to 1.1060. The market remains range-bound, awaiting a decisive breakout or breakdown.Daily chart
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Traders are long
About 56% of traders are long on EUR/USD, showing a moderately bullish sentiment, while 44% are short, indicating some caution. Long positions have increased by 11.6%, suggesting growing confidence in a price rise.