Economic Calendar Analysis
Volatility should be anticipated considering economic data releases from United States this week as well intrest rate decision will have some significance.
EUR/USD hourly chart analysis
In the short term, if the U.S. dollar continues to weaken, a further move toward the 1.180 level can be expected. This would reflect ongoing pressure on the dollar, possibly due to softer economic data, dovish signals from the Federal Reserve, or improved sentiment in other major economies. As a result, currencies like the euro may gain strength, driving the pair closer to the 1.180 mark.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
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Traders sentiment is bearish
There are no significant changes from the previous week. EUR/USD continues to face bearish sentiment among traders.