EUR

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 has taken a beating so far in Q4 but for the past week and the pair is testing the 1.0500 handle for a second time. For both Euro bears and Yen bulls, EUR/JPY could make for a more attractive argument for directional plays.

Today has been the largest one-day sell-off in EUR/USD since September of 2022 which, interestingly, happened just a couple days before the pair set a multi-year low. The big question now is whether EUR/USD and in-turn DXY are in position to break the multi-year range that’s built in each market.

EUR/USD has vacillated wildly along with election odds and US expectations over the past few days. EUR/JPY has continued to hold a bullish trend following the topside breakout.

EUR/USD finally found some element of support that could hold a low as the pair looks to break what’s been a very bearish streak. Meanwhile, EUR/JPY looks bullish with another breakout to start this week.

EUR/USD is working on its 17th red day in the past 19, a stark contrast to the strength that drove for much of Q3 trade. The question now is how to work with what’s become an oversold move on the daily chart.

EUR/USD is red for the 14th day of the past 15, showing a stark change-of-pace to last month’s rate cut rally in the pair.

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.

EUR/USD put in a strong breakout on the back of CPI, but has since snapped back as US Dollar strength began to re-appear. This sets up another key test at the 1.1000 level even after the breakout of the symmetrical triangle pattern.

EUR/USD started last week with a failed breakout attempt, and despite a seemingly open door for sellers, they couldn’t do much below 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 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.

Tomorrow brings the ECB with the expectation for rate cuts to begin. EUR/USD remains in the 17-month old range with price nearing resistance.

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.

EURUSD Outlook: Following the slight cooling of U.S inflation, markets embraced a euphoric sentiment. Will the upcoming FOMC minutes calm it down or amplify it further?

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