EUR/USD Forecast: Euro's Upward Momentum Surges Ahead of Fed Announcement
EUR/USD Forecast Summary
The EUR/USD pair remains in an upward trajectory as traders speculate on the Federal Reserve’s next moves regarding interest rates. Recently, the Euro rallied during trading, pulled back briefly, and then rallied again, showcasing its strong momentum. Current expectations revolve around the Federal Reserve cutting rates by 25 basis points, with some market participants advocating for a more aggressive 50 basis point cut.
Market Analysis
- Trading Outlook: The Euro seems poised to rise further, particularly ahead of the FOMC meeting.
- Resistance Level: The 1.12 level above stands as a potential target for short-term trading opportunities.
- Support Levels: Below, the 1.11 level offers support, with a further concern around the 1.1080 region.
Market players should exercise caution as volatility remains high. Leveraging positions can be risky during such fluctuations, necessitating careful position sizing.
For more economic insights, visit our economic calendar for a detailed overview of today’s events.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.