EURUSD extends uptrend due to dollar weakness
<Fundamental>
EURUSD advanced to the 1.1140 level after breaching the descending channel’s upper bound as the dollar’s weakness intensified. EMA21 is widening the gap after golden-crossing EMA78, indicating an apparent bullish signal.
<Technical>
If EURUSD holds above EMA21, the price could gain upward momentum toward the 1.1200 resistance. Conversely, if EURUSD fails to keep the 1.1100 support, where EMA21 intersects, the price could fall further to 1.1050.
EURUSD advanced to the 1.1140 level after breaching the descending channel’s upper bound as the dollar’s weakness intensified. EMA21 is widening the gap after golden-crossing EMA78, indicating an apparent bullish signal.
<Technical>
If EURUSD holds above EMA21, the price could gain upward momentum toward the 1.1200 resistance. Conversely, if EURUSD fails to keep the 1.1100 support, where EMA21 intersects, the price could fall further to 1.1050.
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