EUR/USD has traded unbiased, trading below this week's open.
Economic Calendar Analysis
Fundamental data release impact may be considered low towards EUR/USD this week. Upcoming Auction results may rise further repricing of 3-Year, 10-Year and 30-Year yields may have higher impact on the overall dollar position in the market.
EUR/USD hourly chart analysis
The EUR/USD 1-hour chart indicates that the pair is trading at 1.17339, currently holding its ground above the 30-period Simple Moving Average (SMA) of 1.17040. This position above the red SMA line signals a short-term bullish bias following a recovery from the 1.16750 support level. While the pair is showing upward momentum, it faces significant horizontal resistance at the 1.18000 mark, a level that has historically capped bullish attempts. Immediate support is provided by the SMA (30) at 1.17040, with more substantial floors established further down at 1.16750 and 1.16500. The market is currently consolidating around the 1.17339 pivot point, and a clean break above recent local highs would likely be necessary to confirm a challenge of the major 1.18000 target.Hourly Chart
EUR/USD daily chart's review
EUR/USD 1D chart shows a currency pair currently in a recovery phase, with the price at 1.17368 trending above a 20-day Simple Moving Average and a well-defined ascending trendline. While the RSI (60) is currently neutral at 51.44, suggesting the market is neither overbought nor oversold, price action is approaching a significant resistance barrier at the 1.1800 level. Continued bullish momentum depends on the price staying above the 1.1650 to 1.1675 support zone; a failure to hold this area or a break below the trendline could signal a reversal back toward previous lows near 1.1450.Daily chart
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Traders are neutral
The sentiment data for EUR/USD reveals a neutral positioning among retail traders.