EURUSD Good morning. Bears failed to achieve their goal of pushing below the 1.126 level. Now it's the bulls' turn; buyers will start buying at this support level after seeing the weakness of the sellers. The dollar's weakening, both technically and fundamentally, is not over yet. The question was how low the bears could push the price. Now that buyers have eased the pressure a bit, the price can move north again. The information about Powell's non-dismissal is already priced in and is not a price-driving factor. Fundamentally, there is still pressure on the dollar due to the situation with China. As long as the tension on this issue remains, I continue to look north. The forecast of a major US bank to reach the 1.2 level within a year remains valid. For now, we can focus on breaking above 1.157 for a retest and observe the players' behavior at this level. There are some events on the economic calendar today, but commentators are confident that the data to be released will not have a significant impact. All eyes are still on the tariff policy negotiations. The number of initial jobless claims is an important indicator, but the forecasted data does not differ much from the previous ones. The price will move only if there are noticeable changes in the numbers. However, the overall outlook for the US currency is not entirely favorable. Xi Jinping spoke to the media and reiterated that China will not bow to the hegemon, emphasizing that there are no winners in trade wars. China will continue to work with other countries to counter the trade war initiated by the US. This is evident in the current reception of the Kenyan president in Beijing. Furthermore, Trump once again expressed strong views on tariffs today. His contradictory statements will continue to put pressure on the dollar. Investors do not like uncertainty, so investments in gold and other assets will continue after the correction ends. Therefore, I believe that within the day, the pair will slowly start moving upwards again.
