EURUSD

We have passed the first meetings of important central banks like the ECB and the Fed this year. The BoE will announce its decision this week. February will be spent monitoring macroeconomic indicators ahead of the critical bank meetings in March, while also wondering how the trade wars initiated by Trump with tariffs will shape the future. The employment data from the US (non-farm payrolls, unemployment rate, and average hourly earnings) on Friday, along with the BoE's announcement on Thursday, will be among the significant data points of the week. Additionally, the Eurozone CPI and manufacturing PMI data from Europe and the US will attract traders' attention.

The classic Dollar Index made a swift entry into the new month due to the process initiated by Trump with Canada, Mexico, and China. The closing above the 34-day average (107.74) has brought it closer to the level of 109.96 tested on January 13. The index's position around 110 is critical in terms of whether the declines in the EURUSD and GBPUSD pairs will continue. The 1.0380 – 1.0430 region stands out as the main resistance point for the EURUSD pair.