Economic Calendar Analysis
No significant volatility is expected from fundamental news this week, but the ISM Manufacturing PMI on Monday and employment numbers on Friday could impact overall fundamentals.
EUR/USD hourly chart analysis
The repricing of the dollar has resulted in the EUR/USD currency pair moving lower, approaching the 1.0200 price level. This shift can be attributed to the strengthening of the dollar, which has caused a decline in the value of the euro relative to the U.S. currency. At this point, two potential scenarios could unfold in the near future.Hourly Chart
EUR/USD daily chart's review
The dollar repricing continues the bearish trend on the FX pair. If the trend persists, parity could be reached. However, if the long-term bullish trend continues, EUR/USD could move towards the resistance level of 1.07600, supported by sustained upward momentum, positive economic data, and favorable market conditions.Daily chart
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Traders sentiment is bullish
Continuing the trend from the previous week, the EUR/USD pair has seen increased bullish volume, with a clear bullish trading bias emerging among traders. This suggests that market participants are more confident in the pair's upward momentum, driving further buying pressure. The growing volume supports the sustainability of the bullish trend, indicating that traders are likely positioning for continued upward movement in the near term.