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Overall, there hasn't been much change in EURUSD over the past week, and there haven't been any new breakthroughs. The price continues to cautiously move below the resistance level of 1.07.
At the beginning of this week, the currency pair has maintained good stability, with the current price trading around 1.067 and showing slight signs of decline, although the larger trend is still attempting to extend the upward movement beyond the 1.0700 level. The weakening of the US dollar against most major counterparts is the main driving force behind the price increase. The next expected move for EURUSD will be to retest the area of activity between the 34th and 89th EMA lines, and then break out of the current trend to continue rising, as the EMAs still indicate a continued upward momentum.
What are your thoughts on EURUSD?
Overall, there hasn't been much change in EURUSD over the past week, and there haven't been any new breakthroughs. The price continues to cautiously move below the resistance level of 1.07.
At the beginning of this week, the currency pair has maintained good stability, with the current price trading around 1.067 and showing slight signs of decline, although the larger trend is still attempting to extend the upward movement beyond the 1.0700 level. The weakening of the US dollar against most major counterparts is the main driving force behind the price increase. The next expected move for EURUSD will be to retest the area of activity between the 34th and 89th EMA lines, and then break out of the current trend to continue rising, as the EMAs still indicate a continued upward momentum.
What are your thoughts on EURUSD?
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