Economic Calendar Analysis
High levels of volatility may be expected considering multiple economic data releases from United States.
EUR/USD hourly chart analysis
Continuing recent trend EUR/USD continues to trade with a bullish bias, recently testing the key resistance level at 1.16300. This level is not only psychologically important but also marks the upper boundary of the current upward momentum. A decisive break above 1.16300 would likely open the door to further gains toward 1.19000, a major round-number level that also aligns with the upper limit of a long-term consolidation range. On the downside, immediate support lies at 1.14750, a level that has served as a reliable pivot in recent weeks. A pullback to this area, if it holds, would reinforce the bullish structure.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
EUR/USD continues to show a bearish sentiment, reflecting a combination of macroeconomic pressures and shifting market expectations. Investors are cautious as recent U.S. economic data has supported a stronger dollar, while lingering concerns over Eurozone growth weigh on the euro. Higher U.S. yields, driven by resilient economic indicators and a cautious Federal Reserve stance on rate cuts, have further pressured the pair.