EUR/USD clings to gains near 1.0900 due to strong appeal for risk-sensitive assets. Traders expect the ECB reducing interest rates three times this year. Investors shift focus to the US weekly jobless claims data. The major currency pair retraces as the US Dollar stabilizes after a sharp fall to fresh monthly lows. The US Dollar Index , which tracks the US Dollar’s value against six major currencies, rebounds to 104.30 after falling to 104.00 earlier on the day.
0900 in Thursday’s European session but keeps broadly strong after a Symmetrical Triangle breakout on a daily timeframe. A breakout of a volatility contraction pattern results in high buying volume and wider movements. The appeal of the shared currency pair has strengthened as it seems well-established above all short-to-long-term Exponential Moving Averages . The 14-period Relative Strength Index has shifted into the bullish range of 60.00-80.00, suggesting a strong upside move ahead.