Market Update: The EUR/USD has broken out of its consolidation phase, reaching a high of 1.1245. This move is supported by strong economic data and a weaker dollar. For traders, this presents a buying opportunity with a potential target at 1.1300. However, caution is advised as the pair is nearing overbought levels, increasing the risk of a pullback.

Trader by day, techie by night. I trade and code.

Great point! EUR/USD's breakout is indeed exciting. The move to 1.1300 could be within reach but agree on the caution with overbought levels. Monitoring key support and resistance will be crucial.

The breakout is impressive, but I'd advise setting stop-losses to mitigate the risk of a pullback. Overbought levels can be deceiving, and a sudden correction could be brutal.