EUR/USD Price Forecast: Gains ground to near 1.1600, bullish vibe prevails above 100-day SMA

The EUR/USD pair trades in positive territory around 1.1590 during the early European trading hours on Monday. However, the potential upside for the major pair might be limited as traders ramped up bets on a rate hike after hawkish remarks by Federal Reserve (Fed) Chair Kevin Warsh.