EUR/USD finished off a sedate trading week close to where it began, trading within a tight range of slightly more than 1%.
EUR/USD wrapped up the trading week nearly where it started. Market balance has broadly recovered as wait to Fed cuts resumes. Coming up next week: EU GDP & US CPI inflation. Fiber tried to spark a fresh bid back above the 1.1000 handle on Monday, but price spent the rest of the week easing back into familiar technical levels. Forecasting the Coming Week: US CPI and Fed ’s easing should rule the sentiment Market focus remains squarely on the odds of a September rate cut.
A rising pattern of higher lows is solidifying on daily candlesticks, but EUR/USD is still poised for another dip back into the 200-day Exponential Moving Average near 1.0800 if bidders don’t return to the fold and get EUR/USD bolstered into fresh near-term highs. EUR/USD daily chart Euro FAQs What is the Euro? The Euro is the currency for the 20 European Union countries that belong to the Eurozone. It is the second most heavily traded currency in the world behind the US Dollar.
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