The price movement on the EUR/USD currency pair chart is seen to maintain a bullish pattern, but is moving cautiously.
Investors are still evaluating Donald Trump's tariff plans after the inauguration ceremony was held earlier this week.
The US dollar is still seen to be gloomy at a 2-week low despite showing good movement in the New York session yesterday.
The rise on the EUR/USD chart yesterday reached a high of 1.04500 before retreating back down to the focus zone of 1.04000.
The price is flat above that zone in the Asian session this morning (Thursday) while climbing above the Moving Average 50 (MA50) support line on the 1-hour time frame on the chart.
The bullish price movement signal expects the price increase to continue after this, but any update on Trump's policy developments could change the situation.
For a higher increase, the price is likely to surpass yesterday's level before targeting the resistance at 1.05000.
The price is set to hit a fresh 6-week high if the resistance is successfully overcome in a continued bullish pattern.
However, if the price shows a dip below 1.04000, the price trend change signal would expect a lower decline to occur.
The nearest target is to reach the 1.03000 zone which was the focus of trading late last week.
