The New Week Begins with Positive Signals for EUR/USD
Hello everyone. Let’s take a look at the movement of the EUR/USD pair in this Monday morning trading session.
The EUR/USD pair opened the new week at 1.1159, indicating an upward trend. The weakening of the US dollar, driven by expectations of the Fed easing monetary policy, has supported the Euro’s rise. Additionally, recent economic data from the Eurozone has also shown positive signs.
The currency pair is displaying an upward trend within a price channel. With solid support at 1.115, breaking through the resistance level at 1.120 will confirm the uptrend and open opportunities for higher price targets. Once the old resistance level is broken, it will become new support, reinforcing the upward momentum.
What about you? What are your targets for EUR/USD in the near future? Share your thoughts with me!
The EUR/USD pair opened the new week at 1.1159, indicating an upward trend. The weakening of the US dollar, driven by expectations of the Fed easing monetary policy, has supported the Euro’s rise. Additionally, recent economic data from the Eurozone has also shown positive signs.
The currency pair is displaying an upward trend within a price channel. With solid support at 1.115, breaking through the resistance level at 1.120 will confirm the uptrend and open opportunities for higher price targets. Once the old resistance level is broken, it will become new support, reinforcing the upward momentum.
What about you? What are your targets for EUR/USD in the near future? Share your thoughts with me!
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