Currently, EUR/USD is in a mild uptrend, supported by both macroeconomic and technical factors. Let’s analyze the key influences and suitable trading strategies in this article.
With the Fed cutting interest rates and stable economic indicators from the Eurozone, EUR/USD may continue to rise if it breaks through the 1.18300 level, targeting 1.18600. The nearest support is at 1.17400. If the price holds above this support, the uptrend is likely to continue. However, a strong break of support or resistance levels could shift the trend.
Keep a close eye on the upcoming developments and prepare your strategy to capitalize on market opportunities.
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