Fundamental Analysis

• U.S. and Ukraine Negotiating Over Underground Resources
• Expectations are rising for a potential resolution to the Ukraine conflict as negotiations between the U.S. and Ukraine progress.

EURUSD Technical Analysis

Analyzing the daily chart of EURUSD, the pair is encountering strong resistance around the 1.05 USD level, leading to continued consolidation. After rising from 1.017 USD to 1.05 USD, the pair pulled back but did not break the previous low, instead rebounding.

If negotiations between Ukraine and the U.S. progress towards a ceasefire, EURUSD may have further upside potential. The RSI is currently at 56, indicating a wait-and-see approach until the next major catalyst emerges. Traders should watch for a breakout above the 1.05 USD level.

Day trading strategy (1 hour)

Analyzing the 1-hour EURUSD chart, the 90-period moving average is acting as a support level, while the 10-period moving average is also approaching, creating a narrow-range market. As tomorrow marks the end of the month, USD selling adjustments and rebalancing may occur.

A buy-the-dip strategy is recommended for EURUSD:

• Buy Limit Order: 1.045 USD
• Stop Loss: 1.042 USD
• Take Profit: 1.05 USD

Support/Resistance lines

Key support and resistance lines to consider:

• 1.052 USD – The most recent major resistance level

Market Sentiment

EURUSD Sell: 43% / Buy: 57%

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*Trading advice in this article is not provided by Milton Markets, but by Shu Fujiyasu Jr., a certified technical analyst.