EUR/USD: Upside bias with 1.2080 in view – DBS

💡 DMK Insight

EUR/USD is showing signs of bullish momentum, and here’s why that matters right now: With Philip Wee’s forecast suggesting a shift towards 1.19, traders should consider the implications of this upward bias. A sustained move above 1.19 could trigger further buying interest, especially if we see a break of key resistance levels. This aligns with broader market trends where the Euro is gaining traction against the dollar, potentially influenced by European economic recovery signals and diverging monetary policies. If the pair can hold above 1.19, it might attract institutional players looking to capitalize on the momentum. But don’t overlook potential headwinds. If economic data from the U.S. surprises to the upside, it could quickly reverse this bullish sentiment. Keep an eye on upcoming economic releases and sentiment indicators that could impact the dollar’s strength. Monitoring the 1.18 level will be crucial; a drop below could signal a bearish reversal, while a strong close above 1.19 could open the door to further gains. Watch for volatility around key economic announcements in the coming weeks.