EUR/USD Analysis: Anticipating Bullish Continuation
Updated
In alignment with our previous analysis on EUR/USD, we are anticipating a potential bullish continuation of the price, supported by a confluence of indicators including Fibonacci levels, Fibonacci Volume Gap (FVG), technical indicators, and economic data.
EUR/USD gained ground on Thursday, buoyed by the prevailing positive sentiment in the market which favors risk-sensitive currencies like the Euro. This enhanced risk appetite may be attributed to the dovish remarks made by Federal Reserve Chairman Jerome Powell on Wednesday. Powell's dismissal of the likelihood of further interest rate hikes, following the Fed's decision to maintain rates at 5.25%-5.50% in May's meeting, contributed to the Euro's strength.
The EUR/USD pair edged higher, nearing 1.0720 during the Asian trading session. In anticipation of a potential retracement and pullback, we are considering implementing two buy limits.
EUR/USD gained ground on Thursday, buoyed by the prevailing positive sentiment in the market which favors risk-sensitive currencies like the Euro. This enhanced risk appetite may be attributed to the dovish remarks made by Federal Reserve Chairman Jerome Powell on Wednesday. Powell's dismissal of the likelihood of further interest rate hikes, following the Fed's decision to maintain rates at 5.25%-5.50% in May's meeting, contributed to the Euro's strength.
The EUR/USD pair edged higher, nearing 1.0720 during the Asian trading session. In anticipation of a potential retracement and pullback, we are considering implementing two buy limits.
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