EUR/USD holds gains near 1.1800 on hopes a resolution of Iran's war
EUR/USD finds itself at another crossroad after recent developments have seen the pair test a multi year pivot level of 1.1450. Since then EUR/USD has attempted to grind its way higher but further upside is facing a few hurdles.
On the hourly chart of EUR/USD at FXOpen, the pair started a fresh increase from the 1.1665 zone. The Euro cleared the 1.1700 barrier to move into a bullish zone against the US Dollar.
EUR/USD confirms a major bullish structural shift, reclaiming key daily MAs. While short-term momentum is exhausted (H4 RSI > 70), dips are likely to be bought.
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EUR/USD holds near 1.1800 due to rising optimism on US-Iran talks
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EUR/USD extends gains as Dollar slides to fresh six-week lows now
The trading week begins with EUR/USD posting a decline of more than 0.4% in the short term, driven by a renewed strengthening of the U.S. dollar. This move follows the breakdown in Middle East negotiations, which has revived risk sentiment in markets and prevented the euro from maintaining the consistent demand seen in the previous week.