$EURUSD SHORT-TERM OUTLOOK TURNS BULLISH

The euro has shown renewed strength against the dollar, with the short-term directional bias now clearly pointing to the upside. This shift comes as the greenback struggles to maintain momentum following recent economic data releases and dovish Federal Reserve commentary.

Key upside targets are now lined up at 1.1439, followed by 1.1450 and 1.1462. A breakout above these levels could open the door toward the 1.1500 psychological barrier, though traders should watch for potential profit-taking near each resistance zone.

On the downside, the first support sits at 1.1415. A break below this level would likely trigger a drop toward 1.1407, with further downside targets at 1.1397, 1.1386, and ultimately 1.1379. These levels represent previous consolidation zones and are expected to provide strong buying interest if tested.

Trading strategy for the session:

Watch for a sustained move above 1.1439 to confirm bullish momentum. If price holds above this level with strong volume, longs toward 1.1450 and 1.1462 become viable. Conversely, if 1.1415 fails to hold, expect a pullback into the lower support cluster, which could offer better entry levels for those looking to join the uptrend on a dip.

Keep an eye on upcoming US economic releases, including jobless claims and manufacturing data, as these could influence dollar strength and accelerate or reverse the current euro rally.

Key levels summary:

Resistance: 1.1439, 1.1450, 1.1462
Support: 1.1415, 1.1407, 1.1397, 1.1386, 1.1379

Trade cautiously and manage risk accordingly.
👉NFA