The euro showed some growth on Monday, but it was more of a symbolic move. Therefore, there weren't any significant changes in the market. The US dollar's tendency to weaken is a result of investors' constant reassessment of expectations regarding the future actions of key central banks, primarily the Federal Reserve. However, these sentiments could change. Today, the United States will release its Producer Price Index, and according to forecasts, the growth rate is expected to accelerate from 2.1% to 2.2%. This clearly indicates that US inflation has the potential to rise, which in turn will force the US central bank to take a more cautious approach to lowering interest rates. However, these are indirect factors that can have a minor influence on the pair. The market is more likely to revert to the values from the start of yesterday's trading.

The EUR/USD pair is moving around the peak of the corrective cycle. The fact that the price has repeatedly hit the 1.0800 resistance level indicates a prevailing bullish sentiment among market participants.

On the 4-hour chart, the RSI technical indicator is hovering in the upper area of 50/70, indicating a bullish bias.

On the same chart, the Alligator's MAs are headed upwards, corresponding to an upward cycle.

Outlook

Keeping the price above the key level of 1.0800 by the end of the day would suggest that the pair will extend the corrective cycle, which can positively affect the volume of long positions in the euro. Otherwise, we may see another price rebound with subsequent sideways movement.

The comprehensive indicator analysis in the short-term and intraday periods points to a corrective cycle.