The EUR/USD pair peaked on Wednesday at 1.0944, its highest since mid-March, as the US Dollar’s demand remains subdued despite a souring market mood.
EUR/USD Current price: 1.0938 The Eurozone confirmed June annual inflation at 2.5%, as previously anticipated. Bets that the Fed eral Reserve will cut interest rates in September hit the US Dollar. EUR/USD bullish momentum persist, near-term signs of a potential correction. Stock markets are in retreat mode amid news that the United States is considering imposing severe trade restrictions on Chinese semiconductor technology companies.
4% in the month, while Housing Starts in the same period were up 3%. Coming up next, the country will publish Capacity Utilization and Industrial Production, while Federal Reserve policymaker Christopher J. Waller will hitthe wires. EUR/USD short-term technical outlook The EUR/USD pair is up for a sixth consecutive day and gives no signs of giving up. From a technical perspective, the pair is approaching overbought conditions yet firmly bullish.
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EUR/USD Forecast: Bulls need a strong catalyst to retest 1.0800The US Dollar (USD) added to the negative start to the week and receded marginally on Tuesday, lending some tepid support to the risk complex and lifting EUR/USD to as high as the 1.0760 zone, where some initial resistance seems to have emerged.
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EUR/USD Forecast: Bulls give it another tryThe EUR/USD pair recovered the 1.0700 mark and trimmed its Wednesday losses when it bottomed at 1.0665.
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EUR/USD Forecast: Bulls maintain the pressure as the mood improvesA better market mood weighs on safe-haven assets at the beginning of the week, resulting in the US Dollar shedding ground against its European rivals.
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EUR/USD Forecast: Consolidative phase continues with bulls maintaining the pressureThe EUR/USD pair trades uneventfully at around 1.0820 on Wednesday, still confined to a tight intraday range, with the US Dollar maintaining the soft tone across the FX board.
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EUR/USD Forecast: Bulls hold the grip ahead of Powell’s wordsThe EUR/USD pair trades in the 1.0900 price zone, near the intraday peak at 1.0919, its highest since mid-March.
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