ECB

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EURUSD Analysis: Following a double top formation at the 1.120 resistance, EURUSD reached the target, pressured by a strong dollar and dovish ECB. Will the decline continue?

The EUR/USD held near 1.0850, near its lowest level since early August. The other euro crosses were mixed. However, the EUR/JPY forecast hadn’t quite turned bearish yet as it held above a key support and traders watched whether the USD/JPY pair would hold its latest attempt to break the 150.00 in response to a series of US data beats.

EUR/USD bears have taken a swing and the pair is now working on its 13th red day in the past 14. And before that, bulls were persistently pushing into the 1.1200 handle so the contrast is stark. The question now is how dovish the ECB sounds at tomorrow’s widely-expected rate cut.

EURUSD Forecast: In addition to the strength of the dollar between haven factors and moderated expectations of monetary easing, dovish expectations surrounding the ECB’s upcoming monetary policy decision are putting additional pressures on the Euro.

Conditions for euro bears have been ripe for the past three weeks with renewed bets of an ECB cut alongside scaled-back bets of ECB easing. But given the depth of the selloff on EUR/USD, it could be vulnerable to a bounce unless a dovish cut is delivered.

Everyone has been dunking on the euro and buying US dollars recently, explaining why EUR/USD has continued to sink. But with sentiment towards the common currency so dire, it won’t take much to spark a short squeeze. With major risk events approaching, the temptation to square up short trades may prove too appealing for some.

EUR/USD may consolidate ahead of the European Central Bank (ECB) interest rate decision on October 17 as the exchange rate holds above the weekly low (1.0900).

It’s been a strong month for EUR/USD on the heels of the banks rate cut last month. And while they held off from any additional policy softening today, the door is open for more in the coming months.

EUR/USD stage a further advance ahead of the ECB meeting as it carves a series of higher highs and lows.

US data steps away from the limelight to make way for inflation reports from the UK, Canada, New Zealand, and Japan. And throw in an ECB meeting, Australian employment report and the CCP's Third Plenum for good measure.

EURUSD Forecast: EURUSD is trading above of its key consolidation ahead of FOMC minutes

EUR/USD is holding below its rising trend line and the 50-day EMA in the 1.0820 region, hinting at the potential for more downside in the coming week.

In this article, we are discussing the latest EUR/USD movements as the ECB cuts rates and focus shifts to US NFP, CPI, and FOMC. Stay updated on the modestly bullish trend and technical analysis insights on this pair.

The ECB are likely to perform a widely telegraphed rate cut, odds of a Fed cut have increased and futures traders are becoming increasingly bullish on EUR/USD. Beyond the meeting, the path of least resistance could be higher.

EURUSD Outlook: while the ECB’S actions are crucial for the for the EURUSD trend, U.S economic data could have a more dominant impact

EUR/USD may struggle to retain the advance from the start of the week as the ECB is expected to alter the course for monetary policy.