The Euro is still fluctuating around the 1.0850 level, constrained by support and resistance levels.
Looking at the 4-hour chart, signs of price increase are still evident at the current moment. EUR/USD is expected to encounter the highest initial resistance level so far in April at 1.0885, and then continue to rise to higher levels. The price remains above the simple moving averages (SMA), indicating that the upward trend is being maintained.
However, we need to consider the impact of the global economy and particularly the influence of the US Dollar (USD). The fluctuations of the US Dollar (USD) can cause significant changes for this currency pair, hence evaluating and forecasting the global economic situation is crucial.
Looking at the 4-hour chart, signs of price increase are still evident at the current moment. EUR/USD is expected to encounter the highest initial resistance level so far in April at 1.0885, and then continue to rise to higher levels. The price remains above the simple moving averages (SMA), indicating that the upward trend is being maintained.
However, we need to consider the impact of the global economy and particularly the influence of the US Dollar (USD). The fluctuations of the US Dollar (USD) can cause significant changes for this currency pair, hence evaluating and forecasting the global economic situation is crucial.
