The EUR/USD pair is moving in an upward trend on the daily timeframe. Prices successfully rebounded from the 1.1620 level after sweeping liquidity below Tuesday’s low, which strongly pushed prices higher. This rise is also attributed to the weakness of the US Dollar. We also notice a market structure shift (MSS) from bearish to bullish on the 1-hour chart. Prices are expected to continue rising during the day.

Markets are closely watching today’s Federal Reserve Minutes, which are expected to have a direct impact on the US Dollar and consequently on the EUR/USD pair.

Prices are expected to rise towards the 1.1672 level, followed by 1.1694 and then 1.1710.

The bullish scenario will be invalidated if prices revisit the 1.1622 level.