The EUR/USD currency pair is edging closer to the 1.18 mark, marking a strong bullish trend as market participants anticipate a potential breakout. Recent momentum has been driven by a combination of improving sentiment in the eurozone and broad-based U.S. dollar weakness, as traders price in expectations of continued monetary policy support from the Federal Reserve. With technical indicators showing upward pressure and the euro finding strong support levels, optimism is growing that a sustained rally could be in play.
However, analysts remain cautious about the longevity of the uptrend. While the bullish momentum is evident, any disappointing economic data or unexpected shifts in central bank policy could halt the rally. Market watchers are paying close attention to upcoming economic releases and speeches from key central bank figures for clues on the EUR/USD’s next move. For now, the focus remains on whether the pair can decisively close above the 1.18 resistance level to confirm the breakout.
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