Euro bulls remain intact despite dismal German data. Buyers are looking to break above the sideways channel. Fed’s meeting today can provide a fresh stimulus to the pair. The EUR/USD analysis continued to strengthen its positions yesterday after forming a good signal to open long positions in the afternoon. The data released in the first half of the day on the indicator of conditions for the business environment in Germany did not meet the hopes of economists, which led to a sharp decline in the Euro. However, this fall was quickly bounced back and the bulls re-consolidated above the 1.1784 range. –Are you interested to learn more about automated trading? Check our detailed guide- So far, the buyers are holding the strength are gradually pulling the pair to the highs of the last week, beyond the upper border of the sideways channel, in which the Euro is for the second week in a row. Get FREE Forex Signals Now! Today, there are no important fundamental statistics in the first half of the day, so only the report on changes in the M3 aggregate of money supply and the volume of lending in the Eurozone will attract attention. The data is unlikely to somehow affect the direction of the European currency, which leaves hope for EUR/USD buyers to break the resistance of 1.1816 In addition to the Federal Reserve decision today, we expect data on changes in the volume of US GDP for the second quarter this year at the end of the week, where growth is expected at once by 8.4%. It could also provide bullish momentum to the US Dollar EUR/USD technical analysis: Buyers looking to sustain The EUR/USD pair is gradually rising beyond the 1.1800 mark. The pair managed to break above the descending trend channel and congestion of 20 and 50 period SMAs on the 4-hour chart. –Are you interested to learn more about forex signals? Check our detailed guide- However, the price is now retreating towards 20-SMA on the 4-hour chart. Just ahead of the European session, the pair has completed 39% ADR, 20 pips below the daily highs. The volume of the recent downside wave is declining. It means bears are losing respite for now. EUR/USD 4-hour chart analysis Looking to trade forex now? Invest at eToro! Trade Forex Now! 67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money. Saqib Iqbal Saqib Iqbal Saqib Iqbal is a market analyst, prop fund trader and mentor, serving the industry with his analysis and educational content since 2011. The author has great exposure to different financial markets and institutions. He's well-known for his day trading reviews and multiple timeframe analysis. View All Post By Saqib Iqbal EUR/USD Daily share Read Next AUD/USD Daily Analysis: Aussie Struggles to Regain Losses Ahead of Fed Saqib Iqbal 2 years Euro bulls remain intact despite dismal German data. Buyers are looking to break above the sideways channel. Fed's meeting today can provide a fresh stimulus to the pair. The EUR/USD analysis continued to strengthen its positions yesterday after forming a good signal to open long positions in the afternoon. The data released in the first half of the day on the indicator of conditions for the business environment in Germany did not meet the hopes of economists, which led to a sharp decline in the Euro. However, this fall was quickly bounced back and the bulls re-consolidated above the 1.1784… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.