FX.co ★ Loveboy | EUR/USD

I consider the immediate target for the upward movement to be the midpoint of the 5/8-6/8 price channel, which serves as a critical auxiliary level. I will monitor this level closely for potential reversals or continuations.In my view, the overall strategy for the short, medium, and long term remains consistent. I will continue to follow this framework, adjusting my approach as new data and market conditions emerge. I believe this structured analysis provides a clear roadmap for navigating potential trading opportunities in the EURUSD pair.Hello, colleague! I appreciate your update, and I agree that the EURUSD has followed the anticipated growth trajectory as expected. Now that the upward movement has begun, I will analyze the current situation and share my perspective on the pair’s behavior and potential future movements.I observe that the MA100 is currently in its final phase, moving parallel to the floor, which indicates a flat mood within the weekly timeframe. This suggests to me that the market is consolidating, and I expect limited volatility in the short term. Additionally, I note that the Bollinger Bands are reflecting a similar sentiment, with the MA100 positioned between the bands, signaling a lack of strong directional momentum. However, I also see that the upper and lower bands are tilted upward at a trend angle of approximately thirty degrees, which I interpret as a subtle indication that bulls still hold an advantage despite the flat conditions.I find the global signal from the Semafor indicator particularly noteworthy at this stage. I believe its placement is technically significant, as the price recently pushed a candle beyond the lower Bollinger Band. To me, this suggests that the bears have exhausted their momentum and are likely to exit the market, leaving room for the bulls to regain control. I view this as a strong signal that the downward pressure has subsided, and the market is preparing for further upward movement.Currently, I see the price action unfolding within an ascending channel, with the bottom of the channel already tested and confirmed. I expect this structure to support continued growth in the near term. My primary target for this upward movement is the resistance level at 1.0605, which I believe will be tested if the bullish momentum persists. I will closely monitor the price behavior around this level, as a breakout or rejection could provide further insights into the pair’s direction.In summary, I maintain a bullish outlook for the EURUSD, supported by the ascending channel and the technical signals discussed. I anticipate that the pair will continue to climb, with 1.0605 as the next key resistance level to watch. I will remain vigilant for any changes in market structure or sentiment that could alter this outlook.

Eurozone Harmonized Consumer Price Index (HICP) inflation data for February revealed a slowdown. Headline inflation, as measured by the Consumer Price Index (CPI), rose by 2.4%, exceeding expectations of 2.3% but down from the 2.5% increase in January. Core CPI growth, excluding volatile commodity prices, slowed to 2.6% from 2.7% in the previous quarter, aligning with expectations. On a monthly basis, headline and core CPI both rose by 0.5% and 0.6%, respectively. Technically, the Relative Strength Index (RSI) experienced a sharp rise into positive territory, indicating increased buying pressure. The Moving Average Convergence Divergence (MACD) chart displayed decreasing red bars, suggesting that while bullish momentum was building, some consolidation was possible before further upward movement. Looking ahead, immediate resistance was identified at the 1.0520 level, with a potential acceleration towards the 1.0560 level upon a break above it. Conversely, support was established at the 1.0450 level, coinciding with the recently breached moving average. A break below this level would weaken the bullish outlook and bring the 1.0400 level into focus. The combination of peace talk optimism, and ECB rate cut expectations, are heavily influencing the EUR/USD pair.