Economic Calendar Analysis
Higher levels of volatility could be anticipated, considering the fundamental data releases coming out of the United States.
The Federal Reserve's interest rate decision may create significant volatility if an unexpected decision is made by the Fed.
EUR/USD hourly chart analysis
Continiuing previous weeks trend sideways trading may persist in the short term as the market anticipates fundamental data releases this week. A trading range between 1.12720 and 1.14200 may hold until the market is given a clearer directional basis.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
Trader sentiment has seen slight changes in the FX pair, with increasing levels of bullishness. However, the majority of traders remain bearish.