Forex Analysis by Investing.com (Damian Nowiszewski) covering: EUR/USD, GBP/USD. Read Investing.com (Damian Nowiszewski)'s latest article on Investing.com
This week, the forex market could see higher-than-usual activity with key central bank decisions and economic data releases.These two pairs could therefore create high potential opportunities for traders.
Major players like the European Central Bank, the Swiss National Bank, and the People's Bank of China have already initiated cuts.The market has already priced in a September rate cut, but a broader downward trend in the US dollar requires the Fed to signal a full-fledged pivot, beginning this year and continuing into 2025.1. EUR/USD Breaks Out of Local Wedge Formation
The first target for sellers is to push below the local low of 1.0820, opening the path to the key support level just below the 1.08 mark.
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