Economic Calendar Analysis
Moderate volatility could be introduced this week, as the Fed's interest rate decision will be a key factor in the strength of the US dollar for the medium term.
EUR/USD hourly chart analysis
A directional bias is necessary, as low volatility combined with sideways trading has occurred in the near term. A bullish directional bias could push the FX pair toward the 1.09800 resistance level.Hourly Chart
EUR/USD daily chart's review
The resistance level at 1.06100 has been breached, signaling a potential shift in market sentiment toward further bullish momentum. This breakout suggests that the price could continue its upward trajectory in the near term, with the next significant target being 1.12000. Traders and analysts will likely be monitoring this level closely, as it could indicate continued strength in the market, potentially leading to further gains if buying pressure persists. If 1.12000 is reached.Daily chart
Read More: Technical Analysis
Traders sentiment is bearish
A significant change in sentiment has occurred, with notable bearishness, as less than 30% of trades are on the long side.