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Currencies EUR/USD

EUR/USD Climbs to YTD Highs after Trump-Facilitated Iran-Israel Ceasefire Rouses Risk Rally

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  • June 24, 2025
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EUR/USD pair climbed to its year-to-date highs after U.S. President Donald Trump declared Israel and Iran’s total ceasefire, inciting a worldwide risk-on rally. The Euro gained traction as investors distanced themselves from the safe-haven U.S. Dollar, boosted further by the sudden decline in crude oil prices, which suits the Eurozone as a net importer. Breaking a bullish flag pattern, EUR/USD is now eyeing major resistance levels of 1.1630 and 1.1700. The market is also keeping a close eye on Fed Chairman Jerome Powell’s congressional testimony for more indications on future U.S. monetary policy as expectations for interest rate cuts continue to grow. KEY LOOKOUTS • Trump-declared Iran-Israel ceasefire has unleashed a global risk-on mood, devaluing the U.S. Dollar and strengthening the Euro. • Oil prices have declined sharply, alleviating the inflation fear in the Eurozone and adding to the support for the EUR/USD rally. • EUR/USD broke above a bullish flag chart pattern and trendline resistance levels, with target points at 1.1630 and 1.1700. • Markets look forward to Powell’s assessment of inflation and growth prospects, which may influence expectations for future U.S. interest rate decisions. EUR/USD pair has jumped to multi-month highs as a high-risk rally was driven by U.S. President Trump’s declaration of a ceasefire between Israel and Iran. This geopolitical development helped alleviate market anxiety, with investors unloading the safe-haven U.S. Dollar and opting for riskier assets such as the Euro. Contributing to the strength of the Euro is a steep drop in oil prices, which provides relief to the energy-hungry Eurozone economy. From a technical standpoint, EUR/USD has broken above a bullish flag pattern, with the next levels at 1.1630 and 1.1700 as traders also pay close attention to Fed Chair Jerome Powell’s congressional testimony for additional guidance on U.S. monetary policy. EUR/USD jumped hard following Trump’s declaration of an all-out ceasefire between Iran and Israel, as risk appetite turned bullish. The steep decline in oil prices and softening demand for the U.S. Dollar provided the fuel for the Euro’s escalation. Traders now look to 1.1630 and 1.1700 as primary upside targets. • Trump declared an all-out ceasefire between Iran and Israel, which set off a global risk-on surge. •  EUR/USD surged more than 1.30%, touching levels in excess of 1.1600 and close to the year-to-date high of 1.1630. •  The U.S. Dollar fell dramatically as safe-haven investors fled. •  Oil prices declined almost 3% on Tuesday, following a fall of 13% on Monday, softening inflationary pressure in the Eurozone. •  EUR/USD broke above a bullish flag formation, affirming bullish momentum with targets at 1.1630 and 1.1700. • Fed Chair Powell’s testimony is under the spotlight, with markets looking for interest rate cut signals as U.S. growth slows. • Eurozone PMIs were mixed, but rising sentiment and declining energy prices are providing short-term support for the Euro. The EUR/USD currency pair received a solid lift after a significant geopolitical news event, as U.S. President Donald Trump declared a “complete and total” ceasefire between Israel and Iran. This revelation provided major relief to world markets that were in the doldrums because of mounting Middle East tensions. With concern regarding a wider conflict abating, investors moved swiftly to risk assets, shedding exposure to safe-haven currencies such as the U.S. Dollar. The Euro, therefore, took advantage of risk appetite returning and picked up significant momentum against the Dollar. EUR/USD DAILY PRICE CHART SOURCE: TradingView Aside from geopolitical respite, declining oil prices have also propped up the Euro. Since Europe is a net crude importer, the recent steep drop in oil prices is viewed as a silver lining for the continent’s economy, which has been grappling with inflation and moribund growth. Economic news is also being watched closely by the market, such as German economic climate indicators and forthcoming speeches by ECB officials. In the meantime, in the U.S., focus shifts to Fed Chair Jerome Powell’s congressional testimony, where his inflation and economic stability views could shape future policy expectations. TECHNICAL ANALYSIS EUR/USD broke above a bullish flag chart pattern, indicating a continuation of the uptrend. The duo climbed through the critical trendline resistance level of 1.1540, confirming bullish pressure and targeting the subsequent levels of resistance at 1.1630—the year-to-date high—and 1.1700, corresponding to the 127.2% Fibonacci extension of the recent June rally. Supportively, on the bearish side, immediate support is found at the reverse trendline of 1.1535, and a break below that could negate the bullish setup, revealing the 1.1445 zone back into focus. FORECAST If optimism in the market persists and geopolitical tensions remain low, EUR/USD will most likely continue its bullish sentiment. A break above 1.1630 and maintaining it is likely to pave the way for a move up to the next important resistance at 1.1700. Further U.S. Dollar weakness, prompted by dovish expectations from the Fed or weaker economic news, would add fuel to the Euro’s up move. Positive sentiment around lower oil prices and stabilizing Eurozone fundamentals could also provide tailwinds for the pair in the short term. On the flip side, any revival of geopolitical tensions or better-than-anticipated U.S. economic data can revive safe-haven Dollar demand, exerting downward pressure on EUR/USD. A breakdown below the support level at 1.1535 could initiate a bearish correction, possibly pulling the pair towards the 1.1445 level. Furthermore, a firmer tone from Fed Chair Powell or weaker-than-expected Eurozone data can undermine the bullish mood and stop the rally in its tracks.

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Currencies EUR/USD

EUR/USD Outlook: Bulls Target Higher Ground Ahead of Critical Fed Decision Amid Climbing Channel Support

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  • June 16, 2025
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EUR/USD currency pair starts the week softer, trading marginally below mid-1.1500s as the US Dollar modestly rallies. That said, the pair is still just short of multi-year highs near 1.1630 with traders holding out for the pivotal FOMC decision on Wednesday that might influence near-term market sentiment. Though probability of a September Fed rate cut constrains aggressive USD purchases, the hawkish bias of the European Central Bank remains supportive of the euro. Technically, the pair is still in a strong short-term bull trend in an ascending channel, so there is more potential for further price gains. Significant support is around 1.1500 and 1.1430, with the levels of resistance at 1.1600 and 1.1630 likely to cap the price unless bullish momentum accelerates. KEY LOOKOUTS • Market players are waiting for the Federal Reserve policy announcement, which has the potential to dictate the near-term trajectory of the USD and EUR/USD pair. • Signs of the European Central Bank nearing the close of its rate-cutting phase continue to underpin euro strength. • Levels of support are at 1.1500 and 1.1430, with nearest resistance at 1.1600 and the multi-year high at 1.1630. • Mild US Dollar gains may cap EUR/USD upside, but any indication of fresh USD weakness would encourage fresh buying interest in the pair. EUR/USD pair is trading with a modest bearish inclination at the start of the new week, just below the mid-1.1500s as there has been a modest rise in the US Dollar. Even with the minor retreat, the pair is still near its highest level since October 2021, underpinned by speculation that the Federal Reserve could restore rate cuts as soon as September. Meanwhile, the European Central Bank’s recent turn to a hawkish policy has kept supporting the euro. Technically, the pair is still in a well-established ascending channel, and this represents a short-term bull trend that benefits buyers. Support comes in at 1.1500 and 1.1430, while resistance comes in at 1.1600 and 1.1630, with a possible breakout above 1.1660 paving the way for more gains towards the 1.1700 level. EUR/USD begins the week lower but remains close to multi-year highs as FOMC decision is awaited. September’s possible rate cut by the Fed and ECB’s aggressive stance continue to fuel euro’s upward momentum. Technical charts indicate the pair is in a bullish trend inside an uptrending channel. •  EUR/USD is trading with a weak bearish inclination below mid-1.1500s during early Asian market hours. •  The currency pair is hovering close to its all-time high since October 2021 at around the 1.1630 level. •  Market attention is riveted on the next FOMC decision, with anticipation of a September Fed rate reduction. •  The European Central Bank’s aggressive policy orientation underpins ongoing euro appreciation. •  The uptrending channel on the daily chart shows a robust short-term bullish trend. •  Support levels are at 1.1500, 1.1450, and 1.1430; a fall below would target 1.1370. •  Resistance levels are at 1.1570, 1.1600, and 1.1630, with a breakout above 1.1660 potentially unlocking the door to 1.1700. The EUR/USD currency pair starts the new trading week on a reserved note as traders wait for the much-awaited FOMC policy decision later on Wednesday. The result of this meeting is likely to give new hints on the monetary policy direction of the Federal Reserve, with increasing rumor that the Fed might restart its rate-cutting cycle as soon as September. This US interest rate uncertainty has curbed aggressive action in the US Dollar, leaving traders in wait-and-see mode before the central bank’s announcement. EUR/USD DAILY PRICE CHART SOURCE: TradingView On the European side, the recent cues from the European Central Bank indicate that its rate-cutting cycle is near completion, which has provided some relief to the euro in recent trading sessions. The policy divergence between the Fed and the ECB has acted in favor of the euro’s relative strength. In the meantime, wider market sentiment isstill guarded in response to mixed global economic data and continued geopolitical uncertainty, keeping traders on their guard and choosing to be selective in their positioning as they wade through the week’s decisive events. TECHNICAL ANALYSIS EUR/USD continues to be well-contained within an uptrending channel, showing a strong short-term bullish trend. Daily chart oscillators remain in positive range, indicating that the momentum is still in the hands of buyers. There is immediate support at the 1.1500 psychological mark, with additional weakness cushioned by the 1.1450-1.1430 area, where horizontal and trendline support converge. To the upside, resistance markers are 1.1570 and 1.1600, with a strong break above the recent high at 1.1630 potentially setting the stage for a journey to the 1.1700 handle. FORECAST Should the uptrend momentum continue, EUR/USD has the potential to test immediate resistances of 1.1570 and 1.1600 in the short run. A solid breakout above the latest multi-year high at 1.1630 might initiate new buying interest, driving the pair up towards the top line of the uptrending channel around 1.1660. Stronger support above this level might pave the way for an additional rally up to the psychological 1.1700 threshold, solidifying the positive view. On the negative side, any corrective pullback will likely have early support around the 1.1500 psychological level. A break below that level could expose the 1.1450-1.1430 horizontal support area, which also overlays the lower edge of the ascending channel. Should bearish pressure increase and the pair fall below this key support, EUR/USD can continue its slide down towards 1.1400, with the next significant support lying around 1.1370-1.1365.

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Currencies EUR/USD

EUR/USD Rebounds Amidst Fading US-China Optimism and Eurozone Strength

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  • June 10, 2025
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EUR/USD pair has reversed earlier losses, moving back above 1.1420, as investor confidence in the US Dollar wanes amidst ongoing, complex US-China trade negotiations. While positive remarks from President Trump initially offered some USD support, market participants remain cautious, awaiting concrete progress on challenging issues like rare earths and chip exports. Simultaneously, the Euro is finding support from positive Eurozone data, including a significant improvement in the Sentix Investors’ Confidence Index and hawkish comments from ECB officials, along with better-than-expected Italian Industrial Output. The pair is expected to remain within its recent trading range as the market awaits further developments from the trade talks. KEY LOOKOUTS • The specifics and timeline of any resolution to the ongoing trade discussions will be crucial, as a breakthrough could boost risk sentiment and the US Dollar, while prolonged impasses could weigh on it. • Following their recent rate cut, any further signals from the ECB regarding the pace or pause of future monetary policy adjustments, particularly in light of evolving inflation data, will significantly impact the Euro’s trajectory. • Continued strength in Eurozone economic indicators, such as consumer confidence and industrial output, will be essential to sustain the Euro’s current support. Any signs of weakening could shift sentiment against the currency. • The release of US Consumer Price Index (CPI) data will be a key determinant for Federal Reserve policy expectations and, consequently, the strength of the US Dollar. EUR/USD pair is currently experiencing a rebound, trading above 1.1420, driven by a confluence of factors: waning confidence in the USD due to the intricate and drawn-out US-China trade negotiations, coupled with renewed strength in the Eurozone. Though early supportive statements from US President Trump over the trade talks provided some temporary boost to the dollar, the market is still guarded with respect to the complicated issues in question, including rare earths and chip export bans, which require high concession from both parties. Simultaneously, the Euro is gaining traction from favorable economic data, including a notable improvement in the Sentix Investors’ Confidence Index for June, turning positive for the first time in a year, alongside hawkish remarks from ECB officials and better-than-expected Italian Industrial Output figures. As a result, the pair is expected to largely remain confined within its recent trading ranges as investors await definitive outcomes from the ongoing trade discussions. The EUR/USD has reversed earlier losses, climbing above 1.1420 as waning confidence in the US Dollar, stemming from complex US-China trade talks, converges with growing optimism for the Euro. This Euro strength is fueled by positive Eurozone investor confidence and hawkish comments from ECB officials. The pair is likely to remain range-bound as markets await concrete developments from the trade negotiations. • The pair has retraced previous losses, moving back above 1.1420. • Confidence in the US Dollar is declining due to ongoing US-China trade talks. • While some positive remarks exist, investors are awaiting concrete progress on “thorny issues” in US-China trade. • The Sentix Investors’ Confidence Index in the Eurozone significantly improved in June, turning positive for the first time in a year. • Comments from ECB officials (Olli Rehn and Francoise de Villeroy) have reinforced a hawkish stance. • Italian Industrial Output advanced against expectations, further supporting the Euro. • The pair remains within recent trading ranges as investors are reluctant to place large directional bets until trade developments become clearer. The current market environment sees the Euro regaining some ground against the US Dollar, influenced by shifting sentiment around global trade. While initial reports hinted at constructive discussions between the US and China, the complexities of reaching a comprehensive trade agreement appear to be creating some uncertainty, causing a re-evaluation of the US Dollar’s recent strength. Investors are taking a more cautious stance, patiently awaiting clear signals about the path forward for the world’s two largest economies, especially concerning challenging areas like rare earth minerals and technology exports. NZD/USD DAILY PRICE CHART CHART SOURCE: TradingView In parallel, the Euro is finding its own foundation for support from within its own region. Recent economic data from the Eurozone has shown encouraging signs, notably with a significant improvement in investor confidence. This positive sentiment is further bolstered by statements from European Central Bank officials, indicating a more attentive approach to monetary policy in the future. Combined with solid industrial output figures from Italy, these developments collectively contribute to a more favorable outlook for the Euro at this time. TECHNICAL ANALYSIS EUR/USD pair has seen a notable reversal, climbing back above the 1.1420 level and holding within a recent trading range. This consolidation suggests that while bulls have found a footing, they are currently encountering resistance, preventing a clear breakout. The price action indicates a battle between buyers and sellers around these levels, with investors awaiting a decisive catalyst—likely from the ongoing US-China trade talks—to establish a new directional trend. Key support and resistance levels within this range will be closely watched, as a clear break above or below these points could signal the next significant move for the pair. FORECAST Euros could continue to rally against the Greenback if a truly meaningful and comprehensive breakthrough in the US-China trade negotiations becomes material. Any deal that leads to a resultant substantially large cut or removal of tariffs is likely to boost the risk appetite at the world level, reduce demand for safe haven USD, and encourage capital flows to more growth-sensitive currency like Euro. Additionally, sustained positive momentum in Eurozone economic data, particularly if inflation figures remain elevated but growth continues to show resilience, could lead the European Central Bank (ECB) to adopt a more hawkish stance than currently anticipated. If the ECB signals fewer rate cuts or even a pause in its easing cycle, this would significantly bolster the Euro. Conversely, the EUR/USD pair faces downside pressure if the US-China trade talks stall or completely break down. The current “thorny issues” like rare earths and chip exports could prove difficult to resolve, leading to prolonged uncertainty or even an

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Currencies EUR/USD

EUR/USD Pulls Back After ECB Hawkish Signal Before Major Eurozone Data and US Nonfarm Payrolls

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  • June 6, 2025
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EUR/USD Pulls Back After ECB Hawkish Signal Before Major Eurozone Data and US Nonfarm PayrollsEUR/USD jumped briefly to a nearly two-month high around 1.1500 after the European Central Bank (ECB) lowered rates by 25 basis points, with ECB President Christine Lagarde’s unusually hawkish tone indicating the end of the easing cycle. Yet, the duo has since retreated under 1.1430 as investors become risk-averse ahead of key Eurozone economic releases such as Q1 GDP and April retail sales and highly awaited US Nonfarm Payrolls data. Market attention is still on how the data points will impact the Euro and the US Dollar outlook under persistent global trade uncertainty. KEY LOOKOUTS •  The May jobs report, which is forecasted to indicate slower private payroll expansion and a modest increase in unemployment, may strongly influence USD strength and EUR/USD direction. •  The last GDP reading is seen to be revised slightly higher to 0.4% quarterly expansion, which would support the Euro if borne out. •  Growth in consumption is forecasted steadily, which will enable estimates of consumer confidence as well as economic momentum in the Eurozone. •  Investors will monitor additional clues on the possibility of more rate cuts or the conclusion of the easing cycle in the wake of ongoing economic uncertainties. After the European Central Bank lowered interest rates and President Lagarde delivered surprisingly hawkish comments, the Euro initially jumped to fresh six-week highs versus the US Dollar. But the momentum lost steam as investors became wary in the face of important Eurozone economic indicators and the decisive US Nonfarm Payrolls release. While the ECB indicated that the cycle of easing could be close to the end, there are still concerns surrounding inflation and economic growth. Market players are presently concerned with whether future data will support the strength of the Euro or provide an opportunity for reassessment of the US Dollar in light of continued trade tensions and mixed US economic indicators. EUR/USD surged to a two-month peak following the rate cut by the ECB and hawkish sentiment but retreated as market players waited for critical Eurozone data and the US Nonfarm Payrolls report. Market attention remains on whether these releases will validate the Euro’s strength or will strengthen the US Dollar. • EUR/USD hit a near two-month high of 1.1495 after the rate cut and hawkish words from President Lagarde. • ECB reduced the Deposit Facility rate by 25 basis points to 2.0%, hinting at a possible end to the easing cycle. • Lagarde’s positive but cautious tone decreased market hopes for future cuts in the rate this year. • Eurozone’s Q1 GDP will be revised slightly higher to 0.4% quarterly expansion. • Eurozone’s April retail sales are forecast to record stable year-on-year growth of about 1.4%. • US Nonfarm Payrolls report is eagerly awaited, with the view for slower employment growth and a marginal increase in unemployment. • EUR/USD is probing the key technical support at 1.1400, with the resistance near 1.1495 and 1.1585 Fibonacci levels. Euro jumped to its best level in almost two months after the recent rate cut by the European Central Bank and the unexpectedly hawkish message conveyed by ECB President Christine Lagarde. While the central bank reduced interest rates as anticipated, Lagarde’s remarks indicated the period of monetary easing could be coming to an end, leading investors to reassess their expectations of future policy action. This change in sentiment aided confidence in the Euro, which was further bolstered by favorable news on German government bonds and an overall dovish yet positive sentiment towards the outlook for the Eurozone economy. EUR/USD DAILY PRICE CHART CHART SOURCE: TradingView In spite of this optimism, market players are still wary as they wait for crucial Eurozone economic data, such as the revised first quarter GDP and April retail sales. These numbers will be crucial in gauging the health of the Eurozone economy and will determine the direction of the currency in the near future. In the meantime, focus is also closely on the forthcoming US Nonfarm Payrolls release, which may influence the US Dollar and influence EUR/USD action in light of ongoing uncertainty surrounding trade talks and general global economic sentiment. TECHNICAL ANALYSIS EUR/USD has been on an upward trend since the middle of May, marked by higher highs and higher lows, indicating a bullish momentum. The duo encountered some resistance at the psychological 1.1500 level, where bears stepped in to halt the rally for the moment. Now, the price is falling back to an important support level of 1.1400, which overlaps with an uptrend line and a round-number level that traders closely monitor. A violation of this support might put the current bullish trend into question, with additional downside targets at 1.1360 and 1.1315. On the downside, levels to monitor for resistance are the recent high at 1.1495 and the 261.8% Fibonacci extension at 1.1585, which could serve as potential ceilings to further rises. FORECAST In the future, provided that the Eurozone economic figures meet or beat expectations—i.e., a revised positive GDP and consistent retail sales growth—EUR/USD might recover bullish momentum and try to breach above the latest resistance at 1.1500. Strong data and muted US employment numbers may further undermine the US Dollar, which might drive the pair to the next significant resistance level of approximately 1.1585. Such a move would add strength to the market sentiment that the ECB is nearing the end of its easing cycle, which would bolster the strength of the Euro in the medium term. On the other hand, if Eurozone numbers disappoint or the US Nonfarm Payrolls reading comes in surprising on the positive side with more-than-anticipated job growth, the Euro would stand to lose value. In this scenario, EUR/USD would head to its important support lines around 1.1400 and could even fall further to 1.1360 or 1.1315. A breach below these support levels may indicate changing sentiment, threatening the recent bullish momentum and inviting further weakness as traders reevaluate the ECB’s monetary policy prospects and the relative

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Currencies EUR/USD

EUR/USD Loses Ground in the Run-Up to Eurozone Inflation Data as US Dollar Experiences Technical Correction

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  • June 3, 2025
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EUR/USD is losing ground as the US Dollar recovers on technical basis even as the US manufacturing data remains soft. Market players remain focused on the release of forthcoming Eurozone HICP inflation data, which may set the direction for ECB policy. In the meantime, trade tensions have flared again after Donald Trump suggested doubling steel and aluminium tariffs, which elicited a sharp retort from the European Union. With increasingly worrying fears about global trade and economic deceleration, investors stay on guard ahead of major US labor market releases, which may further influence currency action. KEY LOOKOUTS • The markets are looking forward to the publication of the Harmonized Index of Consumer Prices (HICP) that will provide a glimpse into the European Central Bank (ECB) policy direction. • US Dollar recovers on technical correction, even as a softer ISM Manufacturing PMI reading hints at possible stagflation pressures in the US economy. • Trump’s suggestion that tariffs on steel and aluminium be doubled in size stokes concerns about intensifying trade tensions, prompting denials from the European Union and putting at risk current negotiations. • Investors look to the next US JOLTS report for new labour market indications that will affect USD strength and inform near-term EUR/USD action. EUR/USD is lower around 1.1420 in the Asian session on Tuesday, as the US Dollar experiences a technical correction in spite of continued fears of economic slowdown. The pair fell after its robust performance in the last session, having appreciated more than 0.50%. Traders now await the forthcoming Eurozone Harmonized Index of Consumer Prices (HICP) inflation to see how it affects European Central Bank policy expectations. On the other hand, US manufacturing activity continues to shrink as the ISM Manufacturing PMI fell to 48.5 in May, a third month of falling, adding to the market angst. Adding to market nerves, President Donald Trump’s plan to double steel and aluminium tariffs has heightened trade tensions concerns as the European Union threatened possible countermeasures that could threaten bilateral talks. EUR/USD drifts lower around 1.1420 on technical bounce for US Dollar, down on poor US manufacturing data. Market sentiment takes a hit with rising trade tensions following Trump’s tariff increase. •  EUR/USD declines around 1.1420 after recording more than 0.50% on the last session, pummeled by a rebounding US Dollar. •  US Dollar bounces on technical correction even as weaker-than-anticipated ISM Manufacturing PMI data drops to 48.5 in May. •  European Central Bank’s next interest rate move could be influenced by eurozone HICP inflation data. •  Trade tensions escalate as Donald Trump lays out a plan to double US tariffs on steel and aluminium imports, putting pressure on global markets. •   European Union reacts forcefully, threatening Trump’s tariff increase can derail current trade talks and trigger retaliatory measures. •  US economic worries continue, as stagflationary signs rise as manufacturing production falls for a third consecutive month. •   Traders await US JOLTS Job Openings report later today for additional information on labor market strength and possible USD effect. The foreign exchange market is paying close attention to events in the Eurozone and the United States as significant economic and political events unfold. Traders are looking to the publication of the Eurozone’s Harmonized Index of Consumer Prices (HICP), an important inflation reading that could have implications for European Central Bank policy later on. Meanwhile, the overall market mood is being influenced by the revived trade tensions following former US President Donald Trump’s decision to double import tariffs on steel and aluminum, which was met with strong criticism from the European Union. The EU has threatened that such a move could dash hopes of pending trade negotiations and prompt retaliatory actions, which casts a cloud of uncertainty over the global economic outlook. EUR/USD DAILY PRICE CHART CHART SOURCE: TradingView At the same time, recent US data keeps highlighting issues in manufacturing. The most recent ISM Manufacturing PMI report showed a third month of slowing down, which indicates stress on the industrial part of the economy. In spite of that, the US Dollar has still been able to recover some lost ground as a result of market positioning and technical considerations. In the near future, focus will be on the US JOLTS Job Openings report, which can offer additional insight into the health of the US labor market and inform expectations for future economic trends. TECHNICAL ANALYSIS EUR/USD is immediately met with resistance around the 1.1450 level, an area that corresponds with recent session highs and could limit further upside if bullish pressure diminishes. To the downside, initial support is at 1.1380, where buyers previously intervened, then even firmer support at the 1.1350 handle, which aligns with the 50-day moving average. Momentum indicators such as the Relative Strength Index (RSI) are in the neutral range, predicting a possible consolidation phase unless a clear breakthrough or breakdown happens. Traders will be looking for a sustained breakout above resistance or below strong support to establish the next direction of travel. FORECAST The Euro initially responded well, with EUR/USD increasing more than 0.50% during the last session as investor sentiment improved temporarily. Support from positive momentum came courtesy of expectations regarding the soon-to-be-released Eurozone HICP inflation data that can provide some indication of the European Central Bank’s next policy decision. Moreover, worries of decelerating US economic numbers, such as softer manufacturing data, helped to encourage a more bearish sentiment regarding the US Dollar. These sentiments assisted the Euro to rally during the initial trading session, aided by optimism and positioning within markets. The advances, however, were temporary as the US Dollar recovered owing to a technical reversal, pushing EUR/USD down around the 1.1420 level. The Dollar’s rebound occurred notwithstanding the continued uncertainty over economic softness, such as a third straight monthly drop in US factory output. To add to the bear pressure on the Euro, news of former US President Donald Trump’s plan to raise tariffs on steel and aluminium again fueled trade war fears. Further hammering the sentiment was the European Union’s threat

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Currencies EUR/USD

EUR/USD Tests Key 1.1250 Resistance: Will Bulls Break Descending Channel?

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  • May 20, 2025
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EUR/USD currency pair is testing a crucial resistance level around 1.1250, the upper end of its descending channel, with divergent technical indications. Although the general trend is still bearish due to the ongoing channel pattern, short-term momentum has increased as the pair is above the nine-day EMA and the RSI is sustaining marginally above 50. Initial support at 1.1210 and stronger support at 1.1093, where a break through might expose the pair to further losses. On the other hand, a successful break above 1.1250 might change the outlook to bullish, setting the stage for a rally to the April high at 1.1573. KEY LOOKOUTS • Look for a possible breakout above the resistance of the descending channel. A convincing move higher might change momentum in the bulls’ favor. • A breakdown below this level might indicate dissipating momentum and set off a short-term pullback. • A drop below this region would confirm a bearish continuation and leave the way open toward lower levels at 1.0951 and 1.0840. • The 14-day RSI sitting just above 50 is a principal strength gauge—further upward movement could confirm bullish potential, whereas a slide below might underpin renewed downside pressure. The EUR/USD pair should be watched closely as it challenges the important resistance level of 1.1250, which is the top of its downtrend channel. A breakout above the level may indicate a reversal to the upside, particularly since the pair is trading above the nine-day EMA and the RSI is slightly above 50. Non-breaking may, however, reinforce the current bearish trend, with initial support at 1.1210 and deeper support around 1.1093. A conclusive fall below these levels may open the way for further declines towards 1.0951 and possibly as low as 1.0840 in upcoming sessions. EUR/USD is probing significant resistance at 1.1250, the top of its downtrend channel. A break may mark a bullish reversal, while breakdown can see further downtrend towards support at 1.1210 and 1.1093. •  EUR/USD is probing the upper edge of its falling channel at 1.1250, which is an important resistance point. •  The pair is quoted above the 9-day EMA (1.1210), reflecting short-term positive momentum. •  RSI is still just above 50, reflecting a weak bullish inclination. •  Initial support is at 1.1210, with firmer support at the 50-day EMA around 1.1093. • A fall through 1.1093 could see a further drop towards 1.0951 and the channel’s lower boundary around 1.0840. • Strong buying momentum could take the pair to 1.1573, the April 21 high. • The general trend is still bearish, except in case of a confirmed break above 1.1250. EUR/USD pair remains under the spotlight because it is still a point of concentration in international currency markets. As both the United States and the Eurozone experience important economic events, investors are closely monitoring this significant currency pair for indications of the overall sentiment on the markets. Trends in inflation, interest rate expectations, and geopolitical events are all contributing to the direction of the pair and affecting trading strategies. EUR/USD DAILY PRICE CHART CHART SOURCE: TradingView Market participants are also closely watching economic data from both blocs, such as employment statistics, GDP growth, and central bank statements. These factors not only influence currency valuation but also investor confidence and cross-border capital flows. As the global financial environment continues to develop, the EUR/USD continues to serve as an important gauge of economic equilibrium between the Eurozone and the U.S. economy. TECHNICAL ANALYSIS EUR/USD is now probing a pivotal resistance level of about 1.1250, which is the top line of its downtrend channel. The fact that the pair is trading above the 9-day Exponential Moving Average (EMA) indicates some short-term bullishness, and the fact that the 14-day Relative Strength Index (RSI) is just above the 50 mark indicates a neutral but slightly optimistic market tone. Important support levels to monitor are the 9-day EMA at 1.1210 and the 50-day EMA at 1.1093. A break above the channel resistance could be an indication of trend reversal, whereas a failure to sustain present gains can cause renewed pressure on the downside. FORECAST EUR/USD manages to break above the major resistance level at 1.1250, it can mark the beginning of a bull run. This breakout can draw additional buying interest, which could propel the pair to the next resistance level of 1.1350. A strong push above this level can lead to a journey to 1.1573, which was the April high. Favorable Eurozone economic data or a change in market perceptions on U.S. interest rates could also drive higher. Conversely, a failure to penetrate 1.1250 can lead to fresh selling pressure. The first support is located at 1.1210, close to the 9-day EMA, with higher support at the 50-day EMA at 1.1093. A strong breach through these levels would speed the decline, leaving the pair vulnerable to deeper levels at 1.0951 and possibly towards the lower edge of the descending channel at 1.0840. Poor Eurozone numbers or improved U.S. economic growth might further support the bearish expectations.

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Currencies EUR/USD

EUR/USD Strengthens as Soft US Inflation Data and ECB Optimism Weigh on the US Dollar

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  • May 14, 2025
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EUR/USD currency pair has seen a notable recovery, strengthening towards 1.1250 as soft US inflation data for April weighs on the US Dollar. The Consumer Price Index (CPI) rose at its slowest pace in over four years, prompting criticism from US President Donald Trump, who renewed calls for the Federal Reserve to cut interest rates. In spite of these pressures, the market continues to look for the Fed to keep its existing rates throughout the summer. In the meantime, the Euro performs ahead of its group with increasing confidence in its status as a reserve currency and hopes regarding the European Central Bank’s ability to make further rate cuts. The couple’s upbeat momentum is bolstered by both the abating US inflation and rising demand for the Euro in the face of a short-lived trade truce between the US and China. While investors wait for significant economic data, such as US Retail Sales and PPI, the EUR/USD continues in a bullish trajectory, with resistance at 1.1425 and support at 1.0950. KEY LOOKOUTS • The gentle April CPI reading has placed pressure on the US Dollar, and there are demands for the Federal Reserve to lower interest rates. Additional weak inflation readings or comments by Fed Chair Powell would shape market expectations and affect the USD. • ECB officials continue to point towards future rate cuts, particularly as Eurozone inflation is soft. Any message from the ECB regarding upcoming monetary policy has the potential to harden the Euro and push EUR/USD trends. • The temporary respite between the US and China has lowered the risks of trade war, but any news in US-EU trade relations or any new announcements of trade policy will lead to currency pair volatility. • The EUR/USD has bounced back above its 20-day EMA and displays a bullish bias, with the RSI pointing towards upside. Breakout above key resistance levels (1.1425) or inability to hold above support (1.0950) will be decisive in determining the pair’s direction. EUR/USD currency pair has registered robust rebound, supported by weak US inflation reading for April and the rising probability of additional interest rate reductions by the European Central Bank (ECB). With the weakening of the US Dollar after the release of the lowest CPI growth in more than four years, President Trump’s attack on the Federal Reserve for failing to reduce rates puts extra pressure on the greenback. In the meantime, the Euro is helped by both its increasing status as a reserve currency and the dovish policy of the ECB, with policymakers signaling another rate reduction before summer ends. Geopolitics, including the US-China trade truce, remain a factor in influencing the market, while technical analysis indicates a bullish trend for the EUR/USD pair, with key resistance at 1.1425 and support at 1.0950. As the traders wait for important economic releases, such as US Retail Sales and PPI data, sentiment in the market will remain precarious, determining the future course of the currency pair. The EUR/USD currency pair gains strength as weak US inflation figures weigh down the US Dollar, with prospects of additional rate cuts by the European Central Bank. Technical charts are bearish, with a resistance level of 1.1425 and support level of 1.0950, with market players waiting for major US economic releases as well as geopolitical events. • April’s CPI figures reported the lowest inflation in more than four years, damping the US Dollar and stoking hopes for possible rate cuts from the Federal Reserve. • President Trump once again urged the Fed to cut interest rates, invoking weakening inflation and economic conditions that in his view require easier money policy. • European Central Bank officials such as Francois Villeroy de Galhau have signaled the potential for another rate cut prior to the summer, which would further prop up the Euro. • The Euro has beaten most of its major peers, fueled by growing confidence in its status as a reserve currency and dovish ECB policy. • A temporary trade ceasefire between the US and China has eased fears of a full-blown trade war, supporting some market sentiment. • The EUR/USD currency pair has rebounded above its 20-day EMA and is displaying bullish momentum, with the Relative Strength Index (RSI) indicating further potential upside. • The market is waiting for crucial US numbers, such as Retail Sales and PPI, which might have an impact on the expectations of future policy from the Fed and on the EUR/USD pair. EUR/USD pair has been picking up momentum after the release of weak US inflation numbers for April, and this has weakened the US Dollar. The April Consumer Price Index (CPI) increased by only 2.3%, its weakest rate in more than four years, leading US President Trump to again urge the Federal Reserve to lower interest rates. With inflation indications of weakening, market participants are now turning to the chances of a more dovish Federal Reserve policy, although traders are still mostly anticipating the Fed to hold interest rates all the way to the summer. EUR/USD DAILY PRICE CHART CHART SOURCE: TradingView The Euro, meanwhile, has been taking advantage of its growing status as a reserve currency and the European Central Bank’s persistent dovish bias. ECB policymakers have suggested that they can make another interest rate cut before summer is out, which has bolstered the Euro against other currencies. At the same time, geopolitical events such as the recent US-China trade truce have relaxed global trade tensions, adding to bullish sentiment for the Euro. With growing optimism over the economic strength of the Eurozone, market players are looking to key economic data releases over the next few days for more signals on the EUR/USD pair’s direction. TECHNICAL ANALYSIS EUR/USD pair has experienced a robust comeback, recently crossing its 20-day Exponential Moving Average (EMA) of approximately 1.1220, indicating a trend reversal towards a bullish move. The duo’s bullish momentum is backed by the Relative Strength Index (RSI), which has recovered from a reading of 40, suggesting that buying pressure is increasing. Important

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Currencies EUR/USD

EUR/USD Price Outlook: Testing Key Support Levels Amid Bullish Momentum

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  • May 7, 2025
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EUR/USD currency pair is now testing key support levels near 1.1320, with short-term bullish momentum boosted by the nine-day Exponential Moving Average (EMA) and the 14-day Relative Strength Index (RSI) staying above the 50 level. Unless recent retracements reverse the trend, the pair is still biased higher in an ascending channel pattern and could return to the April 21 high of 1.1573, which was its strongest level since November 2021. However, a breakdown below key support areas could reorient the trend into bearish grounds with additional risks for further losses extending towards the 50-day EMA at 1.1057 and a possible six-week low at 1.0360. KEY LOOKOUTS •  EUR/USD is probing important support at the vicinity of the nine-day EMA at 1.1320. A penetration below this might change the bias to a more bearish bias, paving the way for more downside. •  The 14-day RSI is still above the 50 level, supporting the ongoing bullish bias. Monitor any noteworthy changes in RSI behavior as an indication of possible trend reversals. • The duo can test the April 21 high of 1.1573, its highest since November 2021. Breaking above this level successfully may trigger more bullish action, with the next resistance around 1.1730. •  If the 1.1320 support gives way, the EUR/USD may extend its fall, with significant downside targets at the 50-day EMA (1.1057) and the six-week low of 1.0360. Watch out for these levels to spot possible trend reversals. EUR/USD pair stands at a pivotal resistance, testing significant support around 1.1320, which is bolstered by the nine-day Exponential Moving Average (EMA). As long as the 14-day RSI stays above 50, indicating continued bullish pressure, a fall below this support would change the outlook to the downside, with possible targets at the 50-day EMA of 1.1057 and the six-week low of 1.0360. To the upside, the pair is targeting the April 21 high of 1.1573, a level not reached since November 2021, with additional resistance around 1.1730. Since the pair is oscillating within an upward channel, investors should monitor any changes in these major levels to determine the direction to expect next. EUR/USD is probing important support at 1.1320, and bullish momentum is shown by the RSI being above 50. If broken, this could see a decline to 1.1057, or the upside move to the April 21 high of 1.1573. Traders should be keenly aware of these levels for possible trend reversals. • EUR/USD is probing major support at the nine-day EMA at 1.1320, with a possible bearish reversal if this level is penetrated. • The 14-day RSI continues to stay above 50, reflecting positive momentum and supporting the short-term bullish bias. • The April 21 high at 1.1573 is a pivotal resistance level, possibly indicating further appreciation if penetrated. • EUR/USD is in an upward channel, indicating sustained bullishness unless there is a breakdown below support. • A breakdown below 1.1320 may find the pair challenging the 50-day EMA of 1.1057, a key level for medium-term trends. • A further drop may take the pair to the six-week low of 1.0360, which was last hit on February 28. • Traders need to watch closely key support and resistance levels to measure possible trend reversals or continuation. EUR/USD pair is now at a pivotal point as it consolidates around key levels, with a dominant bullish sentiment affecting its short-term direction. Such momentum is driven by optimistic market expectations, and even with recent retracements, the general trend appears to continue upward. With the duo moving through this stage, its ability to continue along the current path is being watched closely by traders and analysts, particularly as it hangs around key levels that may determine its next move. EUR/USD DAILY PRICE CHART CHART SOURCE: TradingView In the overall picture, the EUR/USD is set in a manner that indicates possible future prospects for additional increases, particularly with historical highs looming. Market sentiment is positive, bolstered by the pair’s overall upward trend and the expectation of positive market events. Investors will probably maintain a close watch over global economic reports and political events, which might affect the direction of the EUR/USD and strengthen or undermine its current trajectory. TECHNICAL ANALYSIS EUR/USD pair is testing key support near the nine-day Exponential Moving Average (EMA) at 1.1320, with the 14-day Relative Strength Index (RSI) still above 50, showing ongoing bullish momentum. The pair is in an ascending channel, reflecting the likelihood of continuing higher if supported above this level. The major resistance is at April 21 high of 1.1573, with additional upside to 1.1730. A breakdown below the present support levels may result in a change of sentiment, which may propel the pair towards the 50-day EMA at 1.1057, with additional downside risks stretching to the six-week low of 1.0360. FORECAST EUR/USD pair can potentially maintain its bullish trend, particularly if it remains above the critical support at 1.1320. If the pair is able to hold within its uptrending channel, it may revisit the April 21 high of 1.1573, the highest level since November 2021. A successful breakout above this would propel the uptrend further, with the next resistance target at 1.1730. Based on current market sentiment and technical indicators, there is hope for the pair to test the higher levels in the near future. Conversely, a decline below the key support area of about 1.1320 would represent a change in market sentiment, paving the way for further bearish action. Below this level, the pair might test the 50-day EMA at 1.1057, which is likely to provide strong support. A further drop would be towards the six-week low of 1.0360, last recorded in February. This would signal a faltering of the medium-term bullish trend, and the traders would keep a close eye on these lower levels for stabilization or additional pressure to the downside.

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Currencies EUR/USD

EUR/USD Forecast: Bullish Trend Goes On with 1.1400 as the Next Important Target

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  • April 28, 2025
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EUR/USD currency pair continues to be bullish as it holds firm near 1.1360 in the Asian session amid a strong technical position. The pair is comfortably above the 100-day Exponential Moving Average (EMA), with the Relative Strength Index (RSI) indicating sustained bullish momentum. The immediate overhead is at 1.1400, with scope for further upside towards 1.1547 and 1.1647. On the negative side, there is support at 1.1315, and a continued break below this may unlock the way for a pullback to 1.1000 or even 1.0888. With mixed signals on US-China trade relations, nonetheless, the bullish outlook for EUR/USD continues to hold in the near term. KEY LOOKOUTS •  The immediate upside target for EUR/USD is at the psychological level of 1.1400. A break above this level could set the stage for further rallies to 1.1547 and 1.1647. • The initial strong support to watch is 1.1315, the April 24 low. A strong and persistent move below this could indicate a possible fall to lower degrees, e.g., 1.1000. • EUR/USD continues to be supported by a solid bullish sentiment, with the currency trading above the important 100-day EMA and an RSI of 61.80, which shows sustained bullish momentum. • Uncertainty from mixed signals provided by the US and China regarding trade talks might engender volatility for the pair, and hence close attention needs to be paid to fresh information that can influence market sentiment. EUR/USD remains on a bullish outlook, with the pair maintaining ground around 1.1360, underpinned by a strong technical platform. The nearby resistance is located at 1.1400, and breaching this barrier may trigger the price to proceed higher towards 1.1547 and then 1.1647. On the down side, a first support in view is located at 1.1315, and its breach may alert for a downtrend towards 1.1000. The pair’s bullish bias is supported by the 100-day EMA and a positive RSI, which reflects continuous upward momentum. Nevertheless, market volatility may rise due to continued uncertainty over US-China trade relations, and it is therefore important to be vigilant for any news update that could shape market sentiment. EUR/USD has a positive outlook with support at 1.1315 and resistance at 1.1400. The bull run of the pair is complemented by a high RSI and the support of the 100-day EMA, despite possible volatility driven by US-China trade uncertainties. • EUR/USD has a positive bias and is favored by a sound technical setup. • Short-term target of the upside move is 1.1400, with extended potential to rise towards 1.1547 and 1.1647. • The initial crucial support level to monitor is 1.1315, and a probable decline to 1.1000 in the event of breaking this level. • The pair trades above the 100-day Exponential Moving Average (EMA), indicating ongoing bullish momentum. • The Relative Strength Index (RSI) above the midline at about 61.80 indicates continuing bullish momentum. • Ambiguity regarding US-China trade relations has the potential to cause market instability, affecting the price action of EUR/USD. • In case the bullish momentum keeps going, subsequent major resistance points are 1.1547 (April 22 high) and 1.1647 (upper Bollinger Band). EUR/USD is depicting strong bullishness as the market continues to perceive the outlook to be positive. The pair has the support of positive market sentiment,partly triggered by a fairly stable economic atmosphere in the Eurozone. Even as the currency pair has been strong, there exists some uncertainty surrounding the global economic situation, which is mainly being caused by confusing signals emanating from the US-China trade war. The trade tensions can make for some episodes of volatility but generally, there is a good sentiment for the euro against the dollar. EUR/USD Daily Price Chart Source: TradingView The persistent euro strength also has something to do with an absence of a major disruption of the Eurozone economy, where economic figures provide a stable background for the currency. At the same time, the US dollar is also facing some difficulty as the unpredictable nature of trade relations between China and the US clouds future prospects. As investors continue to observe these developments, the EUR/USD pair is set to stay in its existing bullish trend, although outside circumstances may cause short-term fluctuations. The general trend for EUR/USD is upward, and the market appears to be inclined towards the euro in the short term. TECHNICAL ANALYSIS EUR/USD is displaying a robust bullish inclination, bolstered by being above the significant 100-day Exponential Moving Average (EMA), confirming the upward motion to continue. The Relative Strength Index (RSI) is in positive ground and at 61.80, indicating buying pressure remains in place and the pair would be able to sustain its upward trend in the near term. The near-term resistance is at 1.1400, and if this level is breached, additional gains to 1.1547 and 1.1647 would be anticipated. On the downside, the initial support is at 1.1315, and a fall below this might indicate a reversal. Generally, the technical indicators are to the advantage of the euro, with robust support and bullish momentum driving the pair’s direction. FORECAST EUR/USD remains firmly in bullish sentiments, with the initial key resistance level at 1.1400. The breaking of this level may make way for increased gains, the next targets to the upside at 1.1547, April 22 high, and 1.1647, the top limit of the Bollinger Band. If there is sustained bearish momentum, these levels can serve as decisive markers, informing the market that the pair is likely to sustain its rising pattern in the ensuing sessions. To the downside, initial support for EUR/USD stands at 1.1315, which is the April 24 low. A prolonged slide below here would indicate a possible pullback towards the next support at 1.1000. Should selling pressure continue, the pair would be subject to further losses, with 1.0888, the April 8 low, standing out as a major target. Still, the pair is supported above these levels at present, containing the bearish scenario.

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Currencies EUR/USD

EUR/USD Under Pressure Amid US Dollar Rebound and Poor Eurozone Economic Figures

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  • April 23, 2025
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EUR/USD recently saw a pullback, temporarily falling below 1.1400 as the US Dollar rallied, driven by President Trump’s remarks on the independence of the Federal Reserve and his hopes for hitting a trade agreement with China. This followed a period of volatility on concerns over tariffs and the Fed’s interest rate plans. At the same time, the Euro came under pressure from soft Eurozone economic indicators, with the April PMI showing weak growth, especially in the services sector. With market players expecting possible ECB rate reductions, the short-term direction of the EUR/USD pair is unclear, as the US Dollar is already displaying signs of regaining its safe-haven appeal. KEY LOOKOUTS • The US Dollar has picked up steam after President Trump’s assurances regarding the independence of the Fed and his positive sentiments on US-China trade negotiations. Market players will be looking for updates in these fronts to assess the sustainability of the Dollar’s recovery. • Poor PMI readings in the Eurozone, specifically a decline in the services sector, indicate the struggles of the region’s economic growth. Investors will watch closely for future economic statistics to determine if this trend persists. • Increasing speculation that the European Central Bank (ECB) might make further interest rate cuts in June could negatively impact the Euro. Words from ECB officials, especially President Christine Lagarde, will be crucial to determining the central bank’s future action. • The EUR/USD pair is resisted at the important 1.1600 level, and 1.1276 is a pivotal support area. Traders need to monitor these levels for possible price action that might determine the next direction for the pair. EUR/USD has come under downward pressure lately, falling below 1.1400 as the US Dollar gained strength after President Trump’s words of comfort to the market regarding the Federal Reserve’s independence and his optimistic view on US-China trade negotiations. The Euro has fared poorly, burdened by soft Eurozone PMI readings, especially a decline in the services sector, which indicated slowing economic growth in the region. Also, rising hopes that the European Central Bank (ECB) will reduce interest rates further in June have contributed to the weakness of the Euro. While the market weighs these factors, EUR/USD is in a precarious balance, with important resistance at 1.1600 and support at 1.1276. EUR/USD recently broke below 1.1400, as the US Dollar appreciated following President Trump’s remarks about the Fed and US-China trade negotiations. However, soft Eurozone PMI data and anticipations of future ECB rate reductions are weakening the Euro, making the currency pair remain in cautious territory. • EUR/USD fell as the US Dollar rallied, driven by President Trump’s assurance regarding the Federal Reserve’s autonomy and positive trade discussion news with China. • The April PMI data from the Eurozone showed poor economic growth, with a decline in the service sector, putting pressure on the Euro. •  Trump showed optimism that the US and China would come to a trade agreement, mitigating some of the tariff-related uncertainty that had previously weighed on the market. • Trump also signaled frustration with the Fed’s decision not to lower interest rates, injecting volatility into the market’s view of US monetary policy. • Heightened expectations that the European Central Bank will cut interest rates again in June are putting pressure on the Euro. • EUR/USD is resisted at the 1.1600 level, with support at the July 2023 high of 1.1276. • Investors are hesitant as they wait for additional economic data from both the US and Eurozone to determine the trend of the EUR/USD pair. EUR/USD pair has recently seen a change in momentum, mainly as a result of events in the US economy and trade negotiations. President Trump’s words of support for the Federal Reserve’s independence and optimism regarding a possible trade agreement with China have given the US Dollar a boost. His assurances have eased market fears over the Fed’s policies, specifically concerns that he would attempt to oust Chairman Jerome Powell. This has given the US Dollar an added attractiveness as investors regained confidence in its stability. EUR/USD DAILY PRICE CHART CHART SOURCE: TradingView Conversely, the Eurozone is suffering from economic issues, with low PMI numbers indicating that the region’s growth is decelerating, especially in the services sector. The possibility of additional rate cuts by the European Central Bank has also contributed to doubts regarding the strength of the Euro. With low inflation expectations and economic activity in the doldrums, the Euro is facing pressure as investors expect further policy measures by the ECB. These factors have placed the EUR/USD pair in a precarious balance, with the US Dollar picking up steam and the Euro struggling to keep its footing amidst regional economic strife. TECHNICAL ANALYSIS EUR/USD has run into resistance at the 1.1600 level, which has halted its recent upward movement. The pair dipped briefly below 1.1400, signaling a correction after touching a three-year high of 1.1575. The 14-week Relative Strength Index (RSI) has spiked above the 70.00 mark, indicating strong bullish pressure but also hinting at potential correction in the near future. Support for the pair is at the July 2023 high of 1.1276, and a strong dip below this point may indicate further downward potential. While the pair remains in this vicinity, the key levels will be eyed by traders for probable breakout or reversal trades. FORECAST If the US Dollar continues to exhibit strength, especially in view of additional favorable news in trade talks or optimism regarding the policies of the Fed, EUR/USD may remain under pressure. But if the Eurozone can stabilize its economic situation and the ECB does not make additional drastic rate cuts, there is some hope for the pair to turn around. A breach above the 1.1600 resistance would be an indication of a change in direction, with further increases to higher levels possible. A boost in stronger economic numbers or fiscal stimulus plans in the Eurozone could also support the Euro to some extent, aiding its recovery. EUR/USD stands at risk of further declines in case the

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