EUR/USD recovers to top end of consolidation
EUR/USD has revisited the recent consolidation high on Thursday, reclaiming territory north of the 1.0700 threshold as market risk appetite stabilizes ahead of another US Non-Farm Payrolls (NFP) report on Friday.
Price action has been aligning with the 34 and 89 EMA as the market anticipates a direct catalyst that could decisively influence the trend direction.
The 4-hour candlestick patterns have been forming higher lows, adding momentum to the recovery as the pair attempts to extend its upward movement from the last swing low around 1.0600. EUR/USD continues to trade with an upward bias along the 34,89 EMA trajectory, and the pair could see further upside if it successfully breaches the 1.074 resistance level.
Price action has been aligning with the 34 and 89 EMA as the market anticipates a direct catalyst that could decisively influence the trend direction.
The 4-hour candlestick patterns have been forming higher lows, adding momentum to the recovery as the pair attempts to extend its upward movement from the last swing low around 1.0600. EUR/USD continues to trade with an upward bias along the 34,89 EMA trajectory, and the pair could see further upside if it successfully breaches the 1.074 resistance level.
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