FX.co ★ 3patti | EUR/USD

EUR/USD good morning too you've outlined, attention to both German data and the opening of the American market is crucial for understanding the potential movements of the EUR/USD pair. The upcoming release of initial claims for unemployment in the US could indeed influence short-term market sentiment, possibly leading to a temporary dip in the euro.Tomorrow's focus on US unemployment and wage data further underscores the importance of staying informed about fundamental indicators that could impact the strength of the dollar. However, today's bullish sentiment may drive the EUR/USD pair towards 1.0755 and beyond, especially with the absence of major news affecting the pair directly.While yesterday's retreat from 1.0733 highlights market volatility, the overall trajectory appears to favor further weakening of the dollar and gradual appreciation of the euro. However, it's essential to exercise caution and wait for the EUR/USD pair to surpass the 1.0765 threshold before considering long positions, as this would indicate a clear northward trend, supported by the calendar's indications.The objective of reaching the 1.0957 level remains plausible, but it's important to remain vigilant for potential turning points, particularly around the 1.0665 level. Buying above this level with targets at 1.0765 and 1.0815 could be a viable strategy if the pair maintains its upward momentum. Conversely, if the pair begins to fall and dips below 1.0665, the road may open towards levels of 1.0635 and 1.0615, suggesting potential shorting opportunities. Overall, while a moderate downward correction is possible in the first half of the day, the general upward direction is expected to persist for now, barring any significant shifts in market dynamics or unexpected developments in economic data. As always, it's important to remain flexible and adapt to changing market conditions accordingly.

At the moment, the pair is trading in different directions and remains neutral on a weekly basis. Key areas of support have yet to be felt and maintained, indicating the relevance of the preferred upward vector. The price should consolidate in the current price zone and limit itself near the level of 1.0763, which is the border of the main support area. If a correction occurs, we should expect to retest this area with further deepening and subsequent bounce, targeting the area between 1.0926 and 1.1033 to provide another upward momentum. This will provide an opportunity. If support breaks and falls below the 1.0694 pivot level, the current scenario will be reversed. See the chart belowf 1.0723-59 and resistance at 1.0791-1.0809. A push-off could lead to a breakthrough above the 1.08 level, followed by a price reaction towards the next resistance zone of 1.0822-79, potentially marking further growth. However, a false breakout may result in a retreat back into the range. Currently, EURUSD