USD increased after news of war in the Middle East

The DXY index has been stuck between 105.35 and 106.9 for the past three weeks. This trading range is likely to remain in place for a while longer. However, looking at the weekly chart, the bullish trend is clearer for the greenback. Therefore, we can expect the DXY index to break the 106.90 level and rise to the 108 mark in the near future.

Meanwhile, the Euro hit a high of 1.0694 last week and has fallen sharply since then. Currently, 1.05-1.07 has been the coin's trading range over the past few weeks. The short-term outlook is negative. The Euro will likely fall below 1.05, possibly even falling to the 1.04 area or lower in the future.