US Dollar Price Forecast: DXY trades near key support ahead of Friday's U.S. Nonfarm Payrolls report, while EUR/USD tests resistance and GBP/USD consolidates after recent gains.
Euro: Upside bias needs close above resistance against US Dollar – UOB
Morning briefing: EUR/USD can attempt to test 1.1600
EUR/USD Price Forecast: Looks set to extend advance beyond 1.1600
EUR/USD has broken higher after spending much of this year trapped beneath downtrend resistance. Whether it sinks or swims will likely be determined by the incoming flow of US economic data and developments in the Gulf.
The EUR/USD forecast is for a potential upside continuation as US Pres Trump says a Hormuz deal could be reached on Wednesday.
EUR/USD technical analysis shows the currency pair rebounding off multi-year support after five straight weeks of testing, back into resistance. Michael Boutros, FOREX.com Senior Market Analyst, breaks down the euro-dollar picture across the monthly, weekly, daily and four-hour charts and the macro calendar shaping it.
EUR/USD Price Forecast: Trades near crucial level of 1.1550
The Euro took advantage on the Intervention with the Yen to test the downtrend as we see from the chart, which in return pushed for a correction A trading zone between 1.1435 and 1.1560 could hold prices until one of the boundaries break. Above 1.1560 could open the door towards 1.1685 and 1.1795.
The US dollar trades cautiously ahead of Friday's Nonfarm Payrolls report as investors assess Fed rate expectations, cooling labor market data, and the outlook for EUR/USD, GBP/USD, and the DXY.
Euro: Mild upside toward 1.1565 cap against US Dollar – UOB
EUR/USD Price Forecast: Hawkish ECB bets back fresh upside