In the latest session, EUR/USD reached the target from the previous analysishttps://tradingview.sweetlogin.com/chart/EURUSD/Tb86Ve7K-EURUSD-Short-Term-Uptrend-Resumes/, breaking above 1.17 and maintaining a steady upward momentum. The main driver was the August Nonfarm Payrolls, which came in at only 22K, far below the expected 75K and the prior 79K. This significant weakness in the U.S. labor market pushed the USD lower, while also reinforcing expectations that the Fed may soon ease monetary policy. As a result, the euro gained strong support, fueling the pair’s rally.
From a technical perspective, on the H4 chart, EUR/USD remains in a clear uptrend with a structure of higher lows. The 1.1660 level is acting as immediate support, while 1.1770 stands as the next resistance to be tested. Both EMA34 and EMA89 are sloping upward, confirming that buyers are in control. Any pullback toward support zones continues to be viewed as a buying opportunity.
Conclusion: With the combination of weak U.S. fundamentals and bullish technical structure, the EUR/USD uptrend is likely to continue, aiming toward 1.1770 and potentially higher if that resistance is broken.
From a technical perspective, on the H4 chart, EUR/USD remains in a clear uptrend with a structure of higher lows. The 1.1660 level is acting as immediate support, while 1.1770 stands as the next resistance to be tested. Both EMA34 and EMA89 are sloping upward, confirming that buyers are in control. Any pullback toward support zones continues to be viewed as a buying opportunity.
Conclusion: With the combination of weak U.S. fundamentals and bullish technical structure, the EUR/USD uptrend is likely to continue, aiming toward 1.1770 and potentially higher if that resistance is broken.
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Top trading opportunities are waiting for you! : t.me/+TaRRH29IRysyNGJl
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🔥 High-quality signals – Win rate up to 85%
📍 Accurate, verified technical analysis
⚡ Fast updates – Never miss a golden entry
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.