EUR/USD is trying to continue to rise, but there is a 'thing' in the way!


 Market movements remained mixed towards the end of the week making investors continue to carefully control their trading risks.

Although trying to calm down with some reported news, the fear of the banking crisis still continues to surround the market at this time.

The US dollar is seen to strengthen slightly against several major currencies, especially the Yen, but remains weak against the Canadian dollar.

Price movements are difficult to determine and investors will be more cautious ahead of the release of some key data such as German inflation and economic growth in the United States (US) today.

European currencies were also flat with the strengthening of the Euro against the US dollar also contained in the New York session yesterday when the US dollar was seen to strengthen slightly.

On the price chart of the EUR/USD pair, the price is seen to have made an increase in the European session reaching a height of 1.08700, but it was pressed again in the next session.

The strengthening of the US dollar has pushed the price to around 1.08250 before flat closing the New York session around 1.08400.

Although the decline is displayed, the price is seen to be still moving above the support level of the Moving Average 50 (MA50) on the 1-hour time frame on the EUR/USD chart, showing that the bullish movement of the price is still valid.

If today's price movement continues to rise, the target at last week's height around 1.09300 will be the focus to reach.

A further move higher will target the key resistance at 1.10000.

On the other hand, if the price starts to change direction showing a bearish pattern, investors will see the price break below the MA50 support before heading towards the 1.08000 level.

Then, the decline will continue lower with the expectation of reaching the next concentration zone at 1.07000.