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EUR/USD Weekly Forecast Momentum Sustained Going into WeekendBy

  • Writer: investfxtime
    investfxtime
  • 6 days ago
  • 1 min read

  • The EUR/USD is once again above the 1.17000 level and enters this week of trading having established a fairly demonstrative move upwards since lows were touched on the 1st of August.

  • Showing the EUR/USD remains heavily influenced by sentiment being generated via U.S economic data, the currency pair seems to have financial institutions leaning into bullish notions, even as definite clouds shadow Forex.

  • USD centric weakness is at core of Forex trading and this has been the case since the first week of February if you are merely looking at one year technical chart. Complexity within Forex has led to dynamic volatility the past handful of months.

  • The trend upwards has certainly not been steady. Last week was no different. A low in the EUR/U

    SD around 1.15900 was seen on Monday, on Tuesday the currency pair touched a high of nearly 1.16920 after U.S CPI numbers showed consumer inflation was tame.

    EUR/USD 5-day chart shows fluctuating line, red and blue circles highlight key points. Text reads "EUR/USD Higher". Timestamp 09:07:12 UTC.
 
 
 

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