It's great to see you all again and discuss our strategy for the new day!
In general, EURUSD is in a local trend phase, specifically in yesterday's trading session with a price increase surpassing 1.0915. It is currently trading at a new high of 1.0934, after reaching 1.0981, marking a 0.13% decrease for the day. So, what are the reasons and factors driving this currency pair?
Considering the influencing factors: EUR/USD gains additional upward momentum and opens up potential for a test of the psychological barrier at 1.1000 due to increased selling pressure on the Greenback after the Non-Farm Payrolls report (+275K) for February.
Looking at the new prospects for EURUSD: On the 1-hour chart, EURUSD is currently consolidating above 1.0897. Breaking below this level will lead to a significant price decrease, while maintaining this level will result in price increase. It is expected that the price will continue to recover after the correction phase and touch the breakout zone around 1.0915 and retest the EMA 34,89 levels.