EURUSD: Continues to maintain the uptrend above 1.0800

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In general, EURUSD experienced a strong price recovery last week, completely surpassing the level of 1.0820. It is currently trading at a new high of 1.0843, after reaching the milestone of 1.0850, marking a 0.05% increase for the day. So, what are the reasons and factors that have driven this currency pair?

Regarding influencing factors: The US Dollar is regaining its footing as it trades in the Asian market in the opposite direction, creating a sense of caution. Investors remain concerned about an important week ahead, focusing on the ECB interest rate decision and Powell's testimony.

Regarding new prospects for EURUSD: On the 4-hour chart, EURUSD is currently receiving strong support around the 1.0820 area. Maintaining this level will lead to a price increase, while a breakthrough will result in a significant price decline. It is expected that the price will continue to recover after the correction phase and retest the 34,89 EMA levels.

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Comment:

Price increases without adjustment

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