When it comes to the EURUSD pair, things are still quite interesting and not entirely clear. On one hand, we saw a continuation of the local uptrend today, reaching the area of 1.0750, although we didn't quite hit 1.0756, indicating that local targets remain. On the other hand, looking at the daily charts, a downtrend is still in place. Following positive US indices, the dollar started to strengthen, causing the pair to drop and even break below the local support around 1.0675, although it was a false breakout. Next week, there will be various economic data releases from Germany, the Eurozone, and the US, including non-farm payrolls and the FOMC meeting. The situation is complex, but I believe we might move higher, despite the absorption on the daily charts. Therefore, if we break above 1.0755 and see a false breakout, I will consider selling in the future.
Comments: