Today's session is being marked by an improvement in market sentiment.
The euro is bouncing back against the US dollar after the price tested an important support zone marked at 1.0550.
If the price stays above this zone, we can expect bullish momentum.
EUR/USD, Daily time frame chart. Source: xStation 5
In addition to the analysis of the EUR/US, when we look at the chart of the dollar index, we can see that there could be room for further declines in the dollar.
The price has been trading in a rising wedge and if sellers manage to break below the structure, the bearish move could intensify.
USD index, 4 hours time frame chart. Source: xStation 5
GBP leads the gains this trading session.
Heatmap. Source: xStation 5
Henrique Tomé, XTB Portugal
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