Macro backdrop: Trump’s tariff rhetoric is weighing on the USD by raising fears of growth slowdown and fueling global risk repricing.

EU outlook: Eurozone inflation and wage data this week may surprise to the upside, especially after the bounce in energy prices.

Technical setup: The breakout above 1.1350 marks the highest level since April. Momentum is building, and the next resistance lies near 1.1550.

Positioning risk: Dollar long positioning is still elevated, leaving room for further short squeeze in EUR/USD.