A further weakening of the US currency brought EURUSD pair up from yesterday's consolidation levels. The current upward trend in the EURUSD market persists and is gaining momentum.

  The common European currency traded just above the newly formed weekly PP at 1.1151 against the US Dollar on Monday morning. In addition, the pivot point is also supported by the 55-day SMA. The currency exchange rate already bounced off the support level once, and no matter if it tests the support once more, the pair is most likely to surge during today's trading session. A surge is also supported by the daily aggregate technical indicators and the fact that the currency pair is close to being oversold. 

  Market managed to hold trades above 1.1115 after last break while failed so far to test resistance zone 1.1230-50 zone.

  The euro traded in a tight range while the dollar was under pressure all over the board. The demand for the euro is limited by the European stocks strengthening.

  The common European currency depreciated against the US Dollar on Wednesday, as it stopped its previous surge and dropped to 1.1149 by the end of day's trading session. On Thursday morning, the currency exchange rate tried to move northwards. However, the pair was stopped by the 55-day SMA at 1.1156, and, afterwards, it moved slightly lower, as the exchange rate was located at 1.1145 by 5:00 GMT. In general, the signals are mixed on the pair today, as daily aggregate technical indicators forecast, that the pair will surge, which would be hindered by the 55-day SMA.

  Euro managed to head toward our second target 1.1150 last week while managed to test 1.1190 resistance zone.