During the Asian session, the EUR/USD pair corrected at 1.1513: the quotes tried to return to the upward trend successfully, and in recent days, this trend has encountered almost no resistance from the American currency, which has begun to decline again amid poor macroeconomic data and the still missing approval of the trade deal by Chinese President Xi Jinping.

The euro has been mixed in the EUR/USD pair during the Asian session, consolidating near 1.1415. Market activity remains subdued as investors are reluctant to open new positions ahead of the release of US inflation data for May at 14:30 (GMT+2).

Growth is possible.

On the daily chart, the upward first entry wave of the highest level 1 of (A) and the correctional second wave 2 of (A) formed, and the third wave 3 of (А) develops. Now, the first entry wave of the lowest level i of 3 and the wave (v) of I are developing. If the assumption is correct, the EUR/USD pair will grow to the area of 1.1800–1.2255. In this scenario, the critical stop loss level is 1.1070.

The EUR/USD pair resumed growth within the medium-term uptrend, rising for the fourth week in a row. Currently, quotes are in the area of 1.1474 (Murrey level [6/8]), but their dynamics are limited by the publication of mixed economic data from the eurozone, as well as expectations of May statistics on the American labor market.

The EUR/USD pair is rising to 1.1540 amid a weakening American dollar due to ongoing uncertainty regarding the prospects for the White House’s foreign policy. Thus, President Donald Trump’s intention to impose taxes on the EU acted as a catalyst for reaching 1.1400. However, the subsequent decision of the US Federal Court of International Trade, which recognized the head of state’s actions on tariffs as illegal, caused a correction to the support level of 1.1200, after which the growth of the quotes resumed.