Free Forex Signals

• Bullish Sentiment: There’s a notable bullish sentiment among some traders and analysts. This is supported by EUR/USD breaking out of an ascending triangle and expectations of reaching towards the 1.1250-1.1300 zone, with some even eyeing a target around 1.12757 due to previous highs and bullish order flow.
• Potential for Consolidation or Bearish Moves: Despite the bullish outlook, there’s mention of potential consolidation, especially if there’s no significant news to drive the market. Some traders are also cautious, pointing out the possibility of a bearish week due to certain technical divergences or imbalances, suggesting that if the weekly order block at 1.1010 fails to hold, the market could see a push towards the bullish targets.
• Market Sentiment and Analysis: The general market sentiment leans towards expecting a bullish continuation for EUR/USD, possibly due to economic factors like interest rate decisions from both the ECB and the Fed, with the latter hinting at potential rate cuts which could narrow the interest rate differential, traditionally supporting the Euro against the Dollar.
• Technical Levels to Watch: Key resistance levels mentioned include around 1.12757, with supports potentially at lower levels like 1.0900-1.0950 if the bullish momentum wanes.

Given this information:

• For Monday: If the bullish momentum holds, EUR/USD might test or approach the 1.12757 level, especially if there’s continued positive sentiment or news supporting the Euro. However, traders are also watching for potential consolidation or a slight pullback if the market needs to digest recent gains, which could mean a more sideways or slightly bearish movement if immediate resistance levels prove too strong.
• Caveats: Always consider that forex markets can be influenced by unexpected news or shifts in sentiment. The forecast here is based on current trends and analyses but always be prepared for volatility or shifts due to geopolitical events, economic data releases, or central bank announcements.

Remember, while these insights provide a snapshot of market expectations, forex trading involves significant risk, and actual movements can differ from forecasts due to myriad factors. Always pair such forecasts with your analysis and risk management strategies.