The EUR/USD pair has been trading higher overall in the session, but short-term price action suggests that the gains are a bit of a grind and are attracting some selling pressure on modest gains. The broader trend higher in the EUR has lost a little momentum, but the bullish alignment of trend oscillators across the short, medium, and long-term DMI studies suggest that the trend higher in the spot still has legs, and the EUR will remain supported on modest dips to the mid/upper 1.08s.
EUR/USD Resistance and Objective
Resistance for the EUR/USD pair is at 1.0970/75, but the minimum objective for this move up remains at 1.10+. With the current bullish alignment of trend oscillators and the overall strength of the EUR/USD pair, this objective seems within reach.
What Does the Future Hold for the EUR/USD Pair?
Despite some short-term selling pressure, the EUR/USD pair is showing strength overall. While the broader trend higher may have lost some momentum, the bullish alignment of trend oscillators suggests that there is still room for a further move higher. With a minimum objective of 1.10+, traders can expect the pair to remain supported on modest dips to the mid/upper 1.08s.
Trading the EUR/USD Pair
For traders looking to trade the EUR/USD pair, it is important to keep an eye on the resistance at 1.0970/75 and the minimum objective of 1.10+. With the current bullish alignment of trend oscillators, traders should be looking to buy on modest dips to the mid/upper 1.08s, as these levels are likely to provide support for the pair.
Conclusion
In conclusion, the EUR/USD pair is showing strength overall, despite some short-term selling pressure. With the current bullish alignment of trend oscillators and a minimum objective of 1.10+, traders should be looking to buy on modest dips to the mid/upper 1.08s. While resistance at 1.0970/75 may provide some temporary roadblocks, the overall strength of the pair suggests that this resistance will eventually be broken, and the pair will move higher.