EURUSD on the Move – Is a New High Coming Soon?Hello traders, what’s your outlook on EURUSD?
Today, EURUSD is showing a strong recovery, continuing to rise within a broadening ascending wedge, supported firmly by the EMA 34 and EMA 89, which are acting as dynamic support for the uptrend.
From a technical perspective, the 1.1200–1.1250 support zone has held well, acting as a solid launchpad. The price remains above the trendline, forming a consistent higher low – higher high structure, signaling that buyers are still in control.
On the fundamental side, the euro is gaining strength from:
Improving consumer confidence across the EU, following upbeat data from Germany and France.
The ECB’s hawkish tone, as it signals no rush to cut interest rates amid ongoing inflation concerns.
Meanwhile, the U.S. dollar weakens as markets anticipate a potential Fed rate cut by Q3 2025, adding fuel to EURUSD's upward momentum.
📌 If price breaks above the 1.1420 resistance, the bullish pattern remains intact with the next target around the previous high of 1.1509.
The strategy: Look for buying opportunities on retracements, especially near the EMA zone, with a medium-term target around 1.1500+.
However, if unexpected news breaks the key support, be ready to adjust your plan accordingly.
What about you – do you expect EURUSD to reach new highs next month?
Let’s discuss below! 💬
