The EURUSD pair has continued to post consecutive gains in its recent intraday trading, benefiting from its movement above EMA50, which reinforces the dominance of a short-term bullish corrective wave and increases the likelihood of extending these gains in the near term.
However, the relative strength indicators have entered deeply overbought territory, showing excessive buying pressure, which could curb the pace of its advance in the coming period, potentially triggering some pullbacks aimed at retesting the 1.1190 support level. Nevertheless, this does not invalidate the positive outlook surrounding the pair.
