EUR/USD Slightly Higher

EUR/USD is trading a bit higher in today's early European hours. The pair went as low as 1.0518 last week and has recovered to a high of 1.0685. Current market price is 1.0652 and it appears that the pair has found some support. Finally dollar bulls can take a breather before the next move which will determine where will the price go from here.

On the one hand, the pair is now at a strong support level that goes back until the first quarter of 2015 when the EUR/USD made a record low of 1.0462. Current level could act as a catalyst and boost prices to higher levels as this time has been anticipated by Euro bulls.

On the other hand, Trump's presence in the US future seems to be stronger than the technical level reached as Dollar bulls are having the best time of this year so far. Goldman Sachs also predicts further dollar appreciation in the near future.

Whatever happens, current times are very uncertain and the best trading strategy now is capital preservation.

Chart: EUR/USD W1