EURUSD Ready to Rally? Ceasefire Relief Sends USD LowerEuro vs United States DollarTICKMILL:EURUSDJoeChampionHey Traders, in today’s trading session we are monitoring EURUSD for a buying opportunity around the 1.16300 zone. EURUSD was previously trading in a downtrend and has now successfully broken out of that structure. Currently, price is in a correction phase and is approaching the retracement area near the 1.16300 zone. From a macro perspective, this setup is strongly supported by the Middle East ceasefire breakthrough and the reopening of the Strait of Hormuz, which has completely shifted market sentiment into a risk-on environment. With the immediate geopolitical threat fading, the US dollar is losing its safe-haven premium, and that is creating broad upside pressure across major currencies against the greenback. Recent market coverage confirms that EUR/USD has been gaining as ceasefire hopes undermine USD demand, making the euro one of the cleanest beneficiaries of the softer dollar theme. The bigger macro narrative for the rest of the week remains highly favorable for EURUSD bulls: equities continue to push higher oil prices have cooled after the Hormuz reopening inflation fears are easing safe-haven USD demand continues to unwind traders are rotating into higher-beta currencies and risk assets Technically, the 1.16300 retracement zone becomes a high-probability buy area, combining the breakout retest structure with a fundamentally weaker dollar backdrop. If buyers defend this level, EURUSD could continue its bullish expansion toward fresh weekly highs as the market keeps repricing the ceasefire as a strong negative catalyst for USD. The idea is simple and powerful: ceasefire + softer dollar + breakout retest = EURUSD buy continuation.