FX.co ★ EUR/USD

EURUSD TF D. The US dollar has partially recovered its positions after the decline earlier this week, supported by hawkish expectations regarding the Fed and geopolitical tensions. The pair’s rise followed the release of the US June CPI and PPI reports. Then, apparently, pre-weekend fear took over — what might happen in the Middle East? Risk was reduced in favor of the dollar. Technically, given that the upward impulse to 1.1482 partially lost its momentum in the following days, the move north is being postponed, and the main scenario now is a continuation of the correction. If at the beginning of the week there was a flag pattern, now we have a horizontal corrective range with 1.1370 at the bottom and 1.1480 at the top. Based on the recent sessions’ dynamics, we are heading again toward the lower boundary of the channel.