Economic Calendar Analysis
When making market assessments this week, volatility levels should be considered elevated. Starting on Tuesday with the EU unemployment rate, and continuing through the week until Friday when the Non-Farm Payroll data is published.
EUR/USD hourly chart analysis
EUR/USD has moved towards 1.03800, seeking the next price level that could be considered a support level. If the forward momentum continues, the probability of reaching the resistance level at 1.04450 increases. If downside momentum occurs, the 1.02500 level may be tested.Hourly Chart
EUR/USD daily chart's review
The daily chart suggests that the second part of 2024 has been trading within a descending channel. On the daily chart, the 1.05240 price level should be considered as the resistance level, which could potentially bring a momentum shift towards more bullishness. Current price levels are still significantly lower than the 50-period, 100-period, and 200-period simple moving averages.Daily chart
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Traders sentiment mixed
From a volume standpoint, the EUR/USD pair has seen more bullish volume. However, no significant trading bias has emerged from traders. The shortened trading sessions previously may still have some impact on the trading bias.