Economic Calendar Analysis
Elevated volatility is expected, as the ISM Manufacturing report and job report numbers will be released to the market.
EUR/USD hourly chart analysis
Direction may be confirmed by upcoming data releases. A bullish move towards the 1.09500 resistance level could signal long-term bullishness. A move below 1.08000 may indicate a significant bearish signal, potentially pushing the FX pair below 1.07400.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
No significant change in sentiment has occurred, with notable bearishness, as less than 38% of trades are on the long side.