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The EUR/USD pair began the week around 1.0789, reflecting heightened global economic uncertainties and a strong inclination towards safe-haven assets. The appeal of the US dollar is bolstered by rising US government bond yields and positive consumer confidence indicators from the University of Michigan, which reported a rise to 70.5 points in October, surpassing expectations. […]

The post EUR/USD Weakens Amid Global Economic Uncertainty and Strong US Dollar appeared first on Action Forex.

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EUR/USD Still At Risk of More Downsides Below 1.0750

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US Jobs Report and Inflation in Focus This Week

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03/06/2024

EUR/USD Eyes More Gains Above 1.0900, Bulls In Control

Key Highlights EUR/USD started a consolidation phase below the 1.0900 resistance. A major bullish trend line is forming with support at 1.0820 on the 4-hour chart. Gold prices are still consolidating above the $2,320 support zone. GBP/USD might continue to rise unless there is a close below 1.2650. EUR/USD Technical Analysis The Euro remained in […]
28/03/2024

GBP Consolidates Amid Concerns Over Economic Growth and Wage Trends

The GBP/USD pair is currently consolidating, hovering around the 1.2631 mark. This consolidation phase follows recent reports highlighting a slowdown in the expansion plans of British businesses for workforce and wage growth, raising concerns about future economic dynamics and inflationary pressures. A key report from the Lloyds Bank Business Barometer indicates a noticeable dip in […]
18/10/2024

EUR/USD Dips After ECB Lower Rates

The euro can’t find its footing and has tumbled 2.7% in October. EUR/USD has stabilized on Friday and is trading at 1.0835 in the European session, up 0.05%. On Thursday, the euro dropped as low as 1.0810, its lowest level since August 2. ECB cuts key rate to 3.25% The European Central Bank didn’t surprise […]