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As expected, despite a completely empty macroeconomic calendar and absence of any other news, the single currency gradually rose. The scale of growth was much less than the day before. Today, the situation is similar, and the macroeconomic calendar is still empty. But it is unlikely for the euro to rise since yesterday's movement was more of an inertial nature after an impressive growth from the day before, triggered by Isabelle Schnabel's statement. The market has already priced in this topic. And we haven't seen new ideas yet. Most likely, the market will consolidate around the reached values.
EUR/USD rose further after the price stayed above 1.0800. Despite the fact that the euro has strengthened in value for the second straight day, it still failed to recover from its recent decline. However, climbing above 1.0800 points to growth in long positions.
On the four-hour chart, the RSI technical indicator is hovering in the upper area of 50/70, which confirms bullish sentiment.
On the four-hour and daily charts, the Alligator's MAs are headed upwards, which reflects the quote's movement.
Outlook
Staying above 1.0800 allows us to expect subsequent growth. EUR/USD could also update last week's high.
However, in case the price falls below 1.0800 and stays there during the day, we can expect a new round of decline.
The complex indicator analysis points to an upward cycle in the short-term and intraday periods.
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