Hello everyone! What do you think the next trend for the EURUSD pair will be?
At the moment, EURUSD is continuing its upward correction, hovering around the 1.115 level and gaining 0.06% at the time of writing.
On Thursday, EUR/USD reached a high, maintaining its position at 1.1150. However, much of the pair’s upward movement has been driven by the broad sell-off in the U.S. dollar rather than a specific rally in the Euro, which still benefits buyers nonetheless.
Looking ahead in the short term, especially on the 1-hour chart, buyers are in a favorable position as technical indicators, such as the 34 and 89 EMAs, clearly show upward momentum. This suggests that we can continue to consider buying in line with the trend.
Happy trading, everyone!
