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FxWirePro- Major Pair levels and bias summary 
FxWirePro- Woodies Pivot (Major) 
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EUR/USD showed a minor profit booking ahead of US ISM services PMI. It hit a high of 1.04340 and currently trading around 1.03863.
Euro area annual HICP inflation has been reported at 2.4% in December 2024, higher from 2.2% in November, in line with projections. However, the core inflation that is without food and energy has remained the same at 2.7%. The highest increase was seen in services at 4.0%, followed by food, alcohol, and tobacco at 2.7%. The increase in non-energy industrial goods has been minimal at 0.5%, while the energy prices gained slightly at 0.1%. This inflation data is crucial since it will have a bearing on the interest rate decisions of the European Central Bank later this month.
Technical Analysis of EUR/USD
The pair is holding above the short and long-term moving averages in the 4-hour chart. Near-term resistance is seen at 1.0450; a break above this may push the pair to targets of 1.04635, 1.0500, 1.0550, and 1.0600. Major bullish momentum is likely only if prices can break above 1.0660, where levels of 1.0700, 1.0760, and 1.0800 await. On the downside, support is seen at 1.0340, with further levels down at 1.0300 and 1.0240.
Market Indicators and Trading Strategy
Commodity Channel Index (CCI)- bullish
Average Directional Movement Index (ADX) - bullish is indicating a bullish trend. It is good to buy on dips around 1.0365-68, with a stop-loss set at 1.0300 and a target price of 1.0500.
