The EURUSD pair has consolidated above the critical barrier of 1.0900$, poised for a potential continuation of its upward trajectory within the established bullish channel visible on the charts. Analysts foresee the pair advancing towards the next major target at 1.1000$.
However, current stochastic indicators indicate a temporary phase of sideways movement due to prevailing negativity. Market watchers anticipate the gathering of positive momentum, crucial for bolstering the price and facilitating the anticipated bullish surge in the near future. A breach below 1.0895$ is seen as pivotal, potentially signaling an exit from the aforementioned bullish channel and initiating a corrective bearish phase within the broader uptrend that commenced from around 1.0665$ levels.
Today’s anticipated trading range spans from the support level of 1.0870$ to the resistance zone near 1.1020$. Traders and investors are advised to closely monitor these levels for potential breakout opportunities that may dictate short-term market sentiment.
In summary, while the EURUSD price currently navigates within a pivotal range, market conditions favor an upward bias towards the 1.1000$ target, contingent upon the resurgence of positive momentum to propel the pair beyond current barriers.
