
Technical Analysis of EUR/USD
The EUR/USD pair is moving in an uptrend on the 4-hour timeframe. Currently, the market is consolidating on the 1-hour chart, with prices bouncing higher from the FVG area around 1.1651. At present, the pair is trading near 1.1673, and further upside is expected during the day.
Key Economic News
The US Dollar Index retreated after the release of the Personal Consumption Expenditures (PCE) data. This weakness in the dollar is expected to support further gains in the euro.
Liquidity Levels
Prices are expected to rise towards 1.1695 first, followed by 1.1720.
Scenario Invalidation
The bullish outlook will be invalidated if the pair revisits the 1.1630 level.