EURUSD on the Daily chart is getting ready to complete a favorable Confirmation Candlestick Pattern called the Three Inside Up at the 1 Fibonacci Extension Level and could be eyeing to head further!

- Last week ended with a Breakout of Previous Highs on Thursday, followed by an abrupt Retest on Friday.

- This week started with price making a decline back to the 1 Fibonacci Extension Level but found Support through Tuesday to where we can see price now is attempting another Breakout of the Falling Resistance that held it at its Highs on Monday.

Now, if todays Daily candle is able to Close above Mondays Open, we could expect price to continue moving higher!

Next level we'd look for price to go to is the 1.618 Fibonacci Extension Level @ 1.16085!

Fundamentally, USD has been weakening slowly with the US Presidents' cancellations of recently planned attacks to give diplomacy room to work, word of our ammunition stockpile being heavily depleted leading to our inability to pursue this conflict much further, the peace talks and negotiations going on between US, Oman and Iran with a final draft expected to be potentially signed by today which looks to get the Strait of Hormuz back up and open!

The ADP Non-Farm Employment released today came in at 44k (missing forecast @ 68k) which has been the lowest added jobs in the past 6 months!

The new Fed Chair Kevin Warsh has removed "forward-guidance" which makes having an idea what the Federal Reserve might do next a little uncertain.

One thing is for sure, US30 and XAUUSD are showing strong Bullish movements and when these show strength, we can expect DXY to potentially weaken!