Hello dear friends! Do you think EURUSD can continue to rise?
Today, the EURUSD currency pair is trading around the 1.097 level, struggling to reach above 1.1000. However, weaker-than-expected inflation data from Germany and Spain are weighing on the Euro.
Despite the pullback, the overall trend still leans towards an upward direction, with a trendline forming and the EMA 34 and 89 indicating price appreciation for this currency pair.
Regarding the outlook: The greenback is still vulnerable to US data, which is a key factor for the recovery of EURUSD. A solid breakthrough below the 1.0960 level would indicate further downside, with the next support level near the EMA 89 at 1.090. The ultimate target remains conquering the 1.10x level.