EUR/USD saw incresaed volatility, touching 1.19000 level, before closing slightly above 1.17500.
Economic Calendar Analysis
Lower levels of volatility may be a primary scenario within this timeline.
EUR/USD hourly chart analysis
EUR/USD is showing bullish momentum after bouncing from support, but it's now approaching a major resistance zone. After finding a floor at 1.1718, buyers have pushed the price higher. The MACD indicator confirms this strong upward momentum, and the first key support to watch is now the 50-period moving average around 1.1760. The key challenge for bulls is the heavy resistance between 1.1800 and 1.1820. A break above this ceiling opens the door to 1.1900.Hourly Chart
EUR/USD daily chart's review
EUR/USD daily chart shows a failed breakout and a sharp pullback, which is now testing the long-term uptrend. While the overall trend remains bullish—confirmed by the bullishly stacked moving averages—a recent attempt to break above the 1.1830 resistance failed significantly. The price spiked to a new high before being aggressively sold off, creating a large bearish reversal candle. This has triggered a pullback towards the first major support zone: the confluence of the 50-day moving average and a horizontal level around 1.1688.Daily chart
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Traders sentiment is bearish
Continuing the trend from previous weeks, from trading sentiment perspective EUR/USD maintains its bearish sentiment, driven by a mix of macroeconomic headwinds and evolving market expectations.