The EUR/USD is set to reach new 2-month highs around 1.1480. Under strong downward pressure, the dollar has fallen to multi-week lows. ECB chief Lagarde’s speech on German GDP is the next key event. Bullish sentiment surrounding the single currency is healthy on Friday, pushing the EUR/USD price to new 2-month highs around 1.1480. –Are you interested to learn more about AI trading brokers? Check our detailed guide- For the fourth year in a row, the EUR/USD is rebounding and is approaching the key barrier around 1.1500. The sharp improvement in the risk mix continues to be supported by the quick sell-off of the dollar, with the US dollar index (DXY) falling to its lowest level since November 2021, which was in the 94.60 zone. Before Thursday, the dollar’s decline accelerated following the release of December inflation data (Wednesday), while US yields appeared to be gaining some strength before the bell in the old continent. Get FREE Forex Signals Now! Chairman S. Lagarde will speak in Europe later that afternoon according to the minutes. In terms of the data, the annual GDP data for Germany should be complemented by trade balance data across the wider euro area. On the other side of the pond, all eyes will be on retail sales, industrial production, the Consumer Sentiment Index, and the New York Fed speech by J. Williams. The EUR/USD is recovering and already flirting with the key area of 1.1500 or 2-month highs. The sharp decline in the US dollar came after disappointing US inflation numbers in December. Still, it did not change the view that the Federal Reserve could start a tightening cycle at its March meeting, reflecting the divergence between the ECB and the Fed would further deepen. In contrast, the continued spread of the Coronavirus pandemic remains the lone factor to consider when it comes to growth prospects and investor morale. ECB C. Lagarde speaks on Friday about the full-year German GDP growth in 2021. Moreover, the US retail sales data will be the key event today. –Are you interested to learn more about Canada forex brokers? Check our detailed guide- EUR/USD price technical analysis: Bulls pause The EUR/USD price is consolidating under 1.1480. The bulls look to rest now, and we may see a pullback towards the 1.1420 area before any further bullish continuation. The price is well above the key SMAs on the 4-hour chart. However, the volume data is mixed, and the pair has done a 40% average daily range so far. Therefore, the probability of pullback is quite high. Looking to trade forex now? Invest at eToro! Trade Forex Now! 68% 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 Free Forex Signals and Forecast: Buy EUR/USD – 14 Jan 2022 Olimpiu Tuns 1 week The EUR/USD is set to reach new 2-month highs around 1.1480. Under strong downward pressure, the dollar has fallen to multi-week lows. ECB chief Lagarde's speech on German GDP is the next key event. Bullish sentiment surrounding the single currency is healthy on Friday, pushing the EUR/USD price to new 2-month highs around 1.1480. -Are you interested to learn more about AI trading brokers? Check our detailed guide- For the fourth year in a row, the EUR/USD is rebounding and is approaching the key barrier around 1.1500. The sharp improvement in the risk mix continues to be supported by the… Top 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.