Over the past 24 to 48 hours, the EUR/USD pair showed strong upward momentum, peaking at 1.15597 during sessions, up from yesterday’s close of 1.1519.

The recent market sentiment was driven by several factors including easing geopolitical tensions and cautious positioning ahead of the U.S. Nonfarm Payrolls report. These combined to support the euro’s strength, with buyers actively stepping in near 1.1528, anticipating a potential break above the key resistance level of 1.1560.

For the average investor, this means that in the current uncertain global economic landscape, the market is gaining confidence in the euro due to improving European conditions. At the same time, uncertainty around U.S. data keeps the dollar cautious, offering room for the EUR/USD to move higher. Investors should watch for a sustained rally in the near term.

Daily Chart

On the daily chart, EURUSD has maintained a steady uptrend since early 2026, oscillating between the 50-day moving average at 1.14795 and the 200-day at 1.16278. The price is repeatedly testing the 800 EMA resistance near 1.1560, with Bollinger Bands showing increased volatility. The MACD remains above zero, signaling sustained bullish momentum. Overall, the daily chart suggests a bullish trend, though immediate resistance must be broken to continue the upward move.

1H Chart

The hourly chart over the past five days shows EURUSD consolidating between 1.1528 and 1.1560 with a bullish alignment of moving averages. Bollinger Bands have begun to expand after a squeeze, indicating the potential for an imminent breakout. The MACD has recently formed a bullish crossover, and the RSI nears 70, reflecting strong buying pressure. A bullish triangle pattern is currently forming, and a breakout above 1.1560 may trigger further upside momentum.

Technical Trend:  The trend is cautiously optimistic within a strong uptrend, classified as ‘actively bullish.’ The market awaits confirmation of a break above the 1.1560 resistance level. Buying pressure is strong, but short-term volatility may increase near resistance zones.

Technical analysis reveals a clear bullish momentum for EURUSD, consolidating ahead of a likely breakout phase. The long-term trend on the daily chart remains upward, with the hourly timeframe signaling a near-term surge supported by a bullish MACD crossover and widening Bollinger Bands. Key chart patterns such as a bullish triangle underlie potential upward breakouts. Traders should monitor the critical resistance area around 1.1560 and watch for confirmation of momentum to initiate actionable trades within the next 24 hours.

Today’s economic events include key Eurozone data such as Germany and France trade balances, unemployment rate, and consumer price index releases. While some German data are expected slightly weaker than previous readings, no major surprises are forecast. Crucially, the US will release July Nonfarm Payrolls and unemployment rate at 14:30 GMT+1 (21:30 HKT), pivotal for EURUSD price direction. A weaker US report could boost the euro versus the dollar, while stronger data may support USD gains. Overall, today’s calendar holds moderate to high potential for EURUSD volatility.

Resistance & Support

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