Euro Price Outlook

EUR/USD has recorded a 2% decline over the last five sessions, favoring the dollar and placing the euro in a sustained bearish zone.

The Euro continued it’s Q4 descent against the US Dollar but it’s the recent build of bearish price action in EUR/JPY that’s of interest going into next week.

EUR/USD continued an aggressive sell-off but EUR/JPY put in a clean breakout from an ascending triangle. Meanwhile, EUR/GBP has set the initial steps for a possible bounce.

Euro plunged for a sixth-day on the heels of a blowout NFP release with EUR/USD off more than 2% from the yearly high. Battle lines drawn on the weekly technical chart.

EUR/USD has put in a very bullish outlay so far in Q3 trade. But last week saw bulls stall inside of the 2024 high and that brings questions to topside continuation in the pair.

EUR/USD has been range-bound for almost 18 full months now, and range support is in view ahead of tomorrow’s release of U.S. inflation data.

EUR/USD wobbled last week but that produced the net impact of a doji on the weekly chart. The next two weeks are loaded for the pair with both the ECB and the Fed to go along with the Friday release of Non-farm Payrolls (NFP).

The European Central Bank is set to begin rate cuts next week, but the big question remains what’s on the horizon and whether the ECB will set the tables for another near-term cut shortly after.