EUR/USD Moves Horizontal Before Surge Past $ 1.1000


 Heading into trading over the weekend, the US dollar moved more flat and failed to provide a clearer direction while the Russian-Ukrainian war crisis remained the focus.

United States (US) President Joe Biden along with European NATO members are preparing for the risk of a nuclear attack expected to be launched by Moscow.

Biden stated that he believes Russia should be dropped from the G-20 group. Meanwhile, French President Emmanuel Macron announced that Russia's gas, coal and oil oil has not yet been decided.

US manufacturing and services sector data published positively during yesterday’s New York session failed to stimulate the strengthening of the US dollar.

While similar data readings for Europe, particularly in Germany which are the focus, recorded good readings slightly support the movement of the Euro.

On the price chart of the EUR/USD pair, the price hovered slowly below the 1.1000 level in yesterday's trading until the end of the New York session.

Starting trading at the beginning of this Asian session (Friday), the price slightly rose above the 1.1000 level and also the Moving Average 50 (MA50) barrier level on the 1 hour time frame of the price movement which could give an early signal of a trend change.

If a more aggressive upside is successfully displayed in the following sessions, it is likely that the price may reach a rise to the resistance zone at around 1.11300 again.

The price, which managed to pass last week's high, will then head to the focus level at 1.12000.

On the other hand if the price continues to decline below the 1.1000 level again, the expected target level for the price target is around the 1.09000 zone first.

And the continued lower decline will retrace the support zone at 1.08000 previously.