The EUR/USD pair has successfully confirmed its breach of the 1.1080 level, a development substantiated by yesterday’s closing above this key threshold. This further reinforces the expectations of a sustained bullish trend in the intraday and short-term outlook, paving the way for additional gains. The immediate targets are set at 1.1145, followed by 1.1200.
The continuation of the bullish trend is underpinned by the supportive stance of the EMA50. Although some lateral movement may occur, influenced by stochastic negativity, the overall outlook remains positive. It is essential to highlight that a breach below 1.1080 could interrupt the optimistic scenario, prompting a shift towards a bearish trajectory.
In today’s trading, the projected range is expected to fluctuate between the support level at 1.1060 and the resistance level at 1.1200.
Expected Trend for Today: Bullish