I've recently observed an interesting movement in EUR/USD, which is clearly gaining strength. The pair is breaking above 1.1735, and it looks like the bulls have solid support here. Yesterday, we saw a drop almost down to 1.1660, but during the Asian session today, we returned to 1.1710 and are moving higher — a 0.10% increase during the day is a solid move.

The dollar has been weakening for the second consecutive day, which should come as no surprise. The Fed maintains a dovish stance, and rumors that the ECB is ending its rate-cut cycle are supporting the euro. This combination is driving this growth. The 1.1735 level is significant — it coincides with the 100-hour moving average and the 50% Fibonacci retracement. If we break through it, it should be interesting.

Regarding technical signals — the MACD indicator recently turned positive and shows upward momentum. The RSI is at 59, so there is still room to grow. The MACD indicator is always a good confirmer, and everything aligns here. The nearest resistance is at the 61.8% Fibonacci retracement, but if we break through that, it could get more interesting. However, if we fail, we might return to a consolidation range. For now, though, the bulls are in control, and the MACD confirms this.