Morning briefing: EUR/USD could trade within 1.1550-1.1650
EUR/USD Price Forecast: 200-day SMA caps Euro as Dollar firms
The beginning of a new month marks a good opportunity to review the seasonal patterns that have influenced the forex market over the 50+ years since the Bretton Woods system was dismantled in 1971, ushering in the modern foreign exchange market.
The week has not been particularly favorable for the euro. Over the last three trading sessions, EUR/USD has declined by nearly 0.5%, once again highlighting a meaningful bearish bias in the short term.
The Euro hit a correction towards the target and support of 1.1570. As we see from the chart and as long as the market holds above this support, a rebound towards 1.1710 is likely.
EUR/USD Price Forecast: Upbeat US Dollar stresses on major currency pair
Euro: Rebound capped by nearby resistance against US Dollar – UOB
The EUR/USD remains vulnerable below 1.1621 as USD strength still remains despite Monday's pullback move to the upside.
Euro: Modest rebound against US Dollar as yields rise – Danske Bank
Fed hike bets support the dollar as markets await JOLTS, ADP and NFP, while EUR/USD and GBP/USD remain pressured near key technical levels.
Euro: Limited downside, range defined against US Dollar – Scotiabank
Euro holds modest gains as US Dollar lacks momentum, Eurozone inflation in focus