Last week was marked by a strong recovery in risk assets, which ended up weakening the US dollar against the main currencies, especially against the euro.
The EUR/USD pair finally managed to break above the downtrend line that has been putting pressure on the pair since the beginning of the year.
เริ่มเทรดทันทีวันนี้ หรือ ลองใช้บัญชีทดลองแบบไร้ความเสี่ยง
เปิดบัญชี ลองบัญชีเดโม่ ดาวน์โหลดแอปมือถือ ดาวน์โหลดแอปมือถือ
EUR/USD - Daily time frame chart
On the daily chart, we can see that the price is currently testing the trendline. This area coincides with the 50-period exponential moving average. If the bulls manage to regain control of the price at this level, a new bullish movement could return very soon.
EUR/USD, D1 time frame chart. Source: xStation 5
On the 1-hour chart, we can see the current situation in more detail. In addition to the previous arguments, it also appears that the price is forming a structure in which it is conditioning the bullish move.
If a break above that zone occurs, then bullish momentum could intensify in the short term.
EUR/USD, 1 hour time frame chart. Source: xStation 5
USD is leading the gains this morning.
Heatmap. Source: xStation 5
Henrique Tomé, XTB Portugal
