EUR/USD maintains modest daily gains just below 1.0800 in Friday's American session. The US dollar struggles to gain strength following the downward revision of December's CPI, allowing the pair to advance. However, EUR/USD fails to sustain its bullish momentum after a two-day bounce and continues to move sideways below 1.0800 as investors look for new catalysts. Cautious comments from ECB officials continue to support the euro. In the United States, the only significant event on Monday will be the Monthly Budget Statement for January. Meanwhile, the USD Index is in a consolidation phase after Monday's strong rebound. In Europe, Economic Sentiment for Germany and the eurozone is expected on February 13. EUR/USD ends the week with a positive balance, while GBP/USD appears to encounter resistance around 1.2650. In Japan, Producer Price Index and Industrial Production data are expected on February 13. USD/JPY approaches 150.00. In Australia, the Westpac Consumer Confidence Index kicks off the week, while AUD/USD remains uncertain around 0.6500. In essence, the dollar remains weak, but the signals on EUR/USD are clear and defined. The price has surpassed the downtrend line at the 1.0840 level and tested it again on Friday, this time at 1.0730, before taking liquidity below December's daily low. I expect further retracement to the 1.0700 level before witnessing a possible recovery towards the 1.10 zone. I will keep you updated on the evolving situation. Best regards and happy trading to all.
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This morning, during London Session the market showed an intention to go down
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Good reaction after CPI release, now I'm waiting for a bullish change of structure
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In my opinion, EURUSD could make this movement on M15 graph tomorrow before and after the US data.
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I close this trade, good sprint of EURUSD after the US data release
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Price made a retracement after the US data release, now the bullish sentiment could come back
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Price could retest on the reversal zone and could go down. But if the price will make a Bos above the level 1.0808, the price could go up.