Hello everyone! Today, EURUSD has shown early signs of a recovery, attempting to adjust its course at the start of the new trading week. After hitting a low of 1.808 last Friday, it's currently trading around 1.082.
However, the short-term uptrend of this pair remains uncertain. Technical analysis reveals that it's still trading below the EMA lines, with the EMA 34 indicating a reversal. To secure further gains, EURUSD needs to break through the resistance at 1.086.
This week's highlights include the release of Germany's Retail Sales data for February and the US Q4 Gross Domestic Product (GDP) growth figures, which will likely influence the market's direction.