Dear friends, at the beginning of this week's gold trading session, EURUSD indicates a new recovery level after the previous closing session. The short-term outlook still suggests the possibility of a EURUSD price decline. At the time of writing, the price is trading steadily around 1.0781, up 0.08% for the day.
Meanwhile, the US dollar has weakened amidst thin trading during the holiday period and ahead of the Fed Minutes on Wednesday. The next focus will be on the monthly report from the Bundesbank in Germany.
Therefore, it would not be surprising if we remain quite optimistic that EURUSD will not stop here but move towards new breakthroughs, with the support level at 1.0600 being closely observed by the bearish camp.
A price increase at this time will still likely encounter the resistance level of 1.0900, thereby opening up many opportunities for sellers.
Meanwhile, the US dollar has weakened amidst thin trading during the holiday period and ahead of the Fed Minutes on Wednesday. The next focus will be on the monthly report from the Bundesbank in Germany.
Therefore, it would not be surprising if we remain quite optimistic that EURUSD will not stop here but move towards new breakthroughs, with the support level at 1.0600 being closely observed by the bearish camp.
A price increase at this time will still likely encounter the resistance level of 1.0900, thereby opening up many opportunities for sellers.
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