EUR/USD: The Euro in an attempt to recover trying to catch 1.1000 level again

The single European currency continues its soft reaction having pulled away from Friday's lows of 1.0950 trying to re-secure the 1,10 level.

The dust from Friday's very strong US jobs data appears to have settled with the US dollar currently on a pause from its strong rally of the past week.

Τhe geopolitical landscape is quite high on the agenda with investors watching with interest developments on the Μiddle Εast front with a possible serious escalation just around the corner.

Renewed optimism about the crucial US jobs pillar has greatly dampened the likelihood of another 50 basis point rate cut at the Fed's next meeting.

Concerns about the course of the European economy remain on the table with some  macroeconomic news that have been announced lately causing disappointment.

At the same time,  the interest rate reduction cycle has begun, this cycle  is quite likely to reduce the interest rate gap between the euro and the dollar, but the probability that this gap will remain positive in favor of the dollar throughout this course remains high.

So in general the concern of the European economy and the interest rate differential in favor of the US currency continue to be the main weights in the effort of the European currency to return to higher prices and easily surpass last year's highs of 1.1270.

Today's agenda is relatively poor with the only interest in terms of macroeconomic data being the industrial production index of the German economy which was released earlier in the morning and showed a very small note of optimism while on the other side of the Atlantic there is no major announcement with the interest to be limited to some Fed's officials statements.

As the exchange rate has moved far away from the desired levels for buying the US dollar, my attention is now focused on the prospect of buying the European currency,  maybe near to the 1.08 level.