During today's session the Euro continues to lead the gains among the major currencies, despite the recent declines recorded over the last few months.
Technical Analysis - 1 hour time frame chart.
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Create account Try a demo Download mobile app Download mobile appOn the 1-hour time frame chart we can see that buyers have broken above the upper bound of the chart pattern - pennant - which has also been supported by the 50 period EMA.
As long as the price remains above the upper limit of the structure, the short-term trend should be to the upside.
However, traders should be on the lookout for headlines that could come out over the next few hours as the conflict in eastern europe continues to be the main driver for the markets.
EUR/USD, 1 hour time frame chart. Source: xStation
During this session, EUR leads gains.
Source: currency-strength.com
Henrique Tomé, XTB Portugal
