EUR/USD: Will the ECB's Decision Determine the Future?
Hello everyone! A new week is starting. Today, let’s join Alisa in predicting the EUR/USD currency pair.
The EUR/USD pair continues to face downward pressure amid escalating geopolitical tensions in the Middle East. Fears of a large-scale conflict in the region have increased demand for the USD, while reducing the appeal of risk assets like the Euro. The ECB’s upcoming policy decision on Thursday also adds to the selling pressure on this currency pair.
Looking at the 1-hour technical chart, the pair is fluctuating around the 1.0918 level, in a downtrend. With resistance at 1.0943 acting as a barrier, the EUR/USD pair is unlikely to break upward in the short term. If the pair breaks the 1.0920 support level, selling pressure could intensify, pushing the price to lower levels.
What are your thoughts on the EUR/USD pair today?
The EUR/USD pair continues to face downward pressure amid escalating geopolitical tensions in the Middle East. Fears of a large-scale conflict in the region have increased demand for the USD, while reducing the appeal of risk assets like the Euro. The ECB’s upcoming policy decision on Thursday also adds to the selling pressure on this currency pair.
Looking at the 1-hour technical chart, the pair is fluctuating around the 1.0918 level, in a downtrend. With resistance at 1.0943 acting as a barrier, the EUR/USD pair is unlikely to break upward in the short term. If the pair breaks the 1.0920 support level, selling pressure could intensify, pushing the price to lower levels.
What are your thoughts on the EUR/USD pair today?
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