⬤ The euro keeps gaining ground against the dollar, with EUR/USD pushing higher on the hourly timeframe while maintaining a clean impulsive structure. The right side of the chart shows strong momentum without signs of exhaustion.
⬤ The wave structure suggests the rally is developing through a series of impulsive moves, marked by consecutive higher highs and lows. Any dips should form 3- or 7-swing corrections rather than deeper reversals, with support projected above the January 19 low around 1.157—a key level reinforced by the green support zone on the chart.
⬤ Wave labeling and Fibonacci references back up this reading. The market has honored previous corrective zones and resumed climbing with solid follow-through. The lack of aggressive selling and the continuation of impulsive behavior show limited downside pressure.
⬤ This matters for the broader FX market since EUR/USD often reflects overall dollar sentiment. Strength above 1.157 could fuel directional moves across major pairs and support risk appetite. A clean break below would challenge the impulsive view and potentially trigger a messier correction. Right now, the chart favors continuation over reversal.
