The US dollar is seen to be still maintaining a positive trading performance until Tuesday yesterday when there were no recent factors that changed its course of movement.
Weak for a while in the European session yesterday, but the currency king managed to show a re-strengthening in the New York session later.
Investors maintained expectations for less aggressive Federal Reserve (Fed) monetary policy easing measures to be implemented at the November meeting.
United States (US) retail sales data will be watched on Thursday which will affect the trade of the US dollar.
Meanwhile, the Euro continues to experience pressure as the European central bank's policy meeting approaches.
The European Central Bank (ECB) is expected to lower interest rates by 25 basis points following a 60 basis point cut at the September meeting.
On the chart of the EUR/USD currency pair, it can be observed that the price remains moving in a bearish trend hovering at the lowest level of 10 weeks around the 1.09000 zone.
The price movement remains below the Moving Average 50 (MA50) barrier line on the 1-hour time frame of the chart which expects the downward trend to continue.
If there is a clear indication of downward price movement, the target will move to the next concentration zone around 1.08000.
However, if the price manages to jump up from the current 1.09000 zone and also pass the MA50 barrier, the increase will try to approach 1.10000 again as the nearest resistance for the price.
Once the signal of a change in the bullish trend is more clearly observed, the price will return to the previous concentration levels such as 1.11000 and 1.12000.
