EUR/USD analysis by the Mallicast team
The Mallicast team’s analysis for the EUR/USD currency pair on the 1-hour timeframe is as follows: Initially, the pair is expected to rise to the price level of 1.11050 with low momentum. After this initial upward movement, a corrective decline is anticipated, bringing the price back to the 1.10829 area. At this stage, the market might show signs of hesitation or consolidation. However, following this correction, the price is expected to rise again, reaching the level of 1.11572. This upward movement could be driven by increased demand for the euro or a weakening of the US dollar. The analysis suggests that the market may react to economic indicators or significant news events that could influence the currency pair's movement.
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