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EUR/USD is once again showing positive signs as dollar strength temporarily slips, while markets await the release of U.S. economic data that has been delayed due to the government shutdown. The decline in expectations that the Federal Reserve will tighten policy in the coming period has brought slight support to the euro and prepared it for a short-term rise.
Looking at the chart, the price is moving steadily above the uptrend line and is undergoing a thorough retest near the 1.1590 level, which is an important support area for buyers. EMA34 and EMA89 are also trending higher, reflecting continued positive momentum.
If the pair sustains the 1.1590 level, the upward rebound may continue to retest the upper descending trendline. A break above the 1.1650 area would provide a strong confirmation of the uptrend, opening the way for further gains.
In short, supportive news factors, good technical structures and solid buying power – all point to gains for EURUSD. Once the 1.1590 level is maintained, the market can easily move towards the 1.1650 target in the coming period.
