The EUR/USD pair traded with a positive bias for the fifth consecutive day on Friday and is currently just below the psychological 1.1000 mark (two-week high reached the previous day).

The Euro is receiving support from the European Central Bank. On Thursday, the ECB said that it is necessary to keep interest rates high for a long time. The U.S. Federal Reserve, on the other hand, is talking about a possible interest rate cut next year. This has lowered the value of the dollar during trading in Asia and is helping the euro rise.

Nevertheless, we should wait for buying outside the 1.1015 area or the multi-month peak reached in November before setting up for further gains. In that case, EUR/USD could accelerate towards the 1.1065 area (August high) and then aim to test the next important barrier around the mid-1.1100 area (July high).