EUR/USD hovers around 1.0700
Hey folks,
This Thursday in the Asian trading session, the EUR/USD was flirting around the psychological mark of 1.0700. The pair saw a modest rise, thanks in part to a softer U.S. Dollar (USD). Later in the day, we're expecting some key releases: Germany's GfK Consumer Confidence Survey for April and preliminary GDP growth figures from the U.S.
Given these events, there's a good chance EUR/USD could make a short-term jump. The trendline is holding strong, and the pair has established new support around 1.069, right at the convergence of the EMA 34 and 89. Therefore, setting our sights on the next trendline target at 1.074 looks promising. Keep your eyes peeled, and let's see how it plays out!
This Thursday in the Asian trading session, the EUR/USD was flirting around the psychological mark of 1.0700. The pair saw a modest rise, thanks in part to a softer U.S. Dollar (USD). Later in the day, we're expecting some key releases: Germany's GfK Consumer Confidence Survey for April and preliminary GDP growth figures from the U.S.
Given these events, there's a good chance EUR/USD could make a short-term jump. The trendline is holding strong, and the pair has established new support around 1.069, right at the convergence of the EMA 34 and 89. Therefore, setting our sights on the next trendline target at 1.074 looks promising. Keep your eyes peeled, and let's see how it plays out!
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