Economic Calendar Analysis
Low levels of volatility could be expected this week, as GDP and jobless claims numbers are released.
EUR/USD hourly chart analysis
If low levels of volatility continue, move below support level of 1.08000 could follow. As well sideways price action could follow trough the week if no directional basis occurs.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
Continuing previous week a significant change in sentiment has occurred, with notable bearishness, as less than 35% of trades are on the long side.