EURUSD – Bullish Momentum ReturnsEURUSD is gradually breaking free from downward pressure as it breaches the short-term accumulation structure, aiming for the resistance zone around 1.1720. On the chart, a clear bullish trend is emerging, supported by FVG signals reinforcing the recovery.
On the news front, expectations are rising that the European Central Bank will maintain a tighter policy stance for longer, as core inflation in the Eurozone remains elevated. Meanwhile, the USD is under corrective pressure following last week’s lower-than-expected U.S. CPI data. Upcoming statements from ECB and Fed officials today will be key in determining the next move for this currency pair.
Unless a surprise arises from the U.S. side, EURUSD is likely to sustain its short-term upward momentum and test the next technical resistance area.
