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EUR/USD Trends: Expert Insights & Trade Strategies - Capital Street FX​

EUR/USD Eases Toward 1.0800 Ahead of Key US Data Release.​

Introduction​

In the midst of anticipation surrounding significant upcoming US data releases, the EUR/USD currency pair is displaying a slight downward movement, inching closer to the crucial 1.0800 level. This article delves into the fundamental and technical aspects influencing this trend, highlighting key market developments and expert insights.

Fundamental Overview​

EUR/USD Faces Downward Pressure Amidst European Trading​

Amidst fresh selling pressure observed during European trading hours, the EUR/USD is experiencing a decline towards the pivotal 1.0800 mark. Despite sluggish yields in the US Treasury bonds, a minor recovery in the US Dollar is exerting downward pressure on the currency pair. Market participants are eagerly awaiting critical US jobs and sentiment statistics that are anticipated to provide directional cues.

Mixed Performance Of EUR/USD In Recent Days​

Following modest gains on Monday, the EUR/USD currency pair managed to touch a daily high of 1.0840 during the Asian session on Tuesday. However, as the market eagerly awaits crucial US data releases within the European trading hours, the currency pair is grappling with challenges in gaining significant upward momentum.

US Dollar’s Performance And European Central Bank’s Impact​

Monday’s American session witnessed a decline in the US Dollar against a majority of its counterparts. This was attributed to an improvement in market sentiment and a decrease in US Treasury bond yields. Notably, the European Central Bank (ECB) played a role in supporting the Euro’s position. ECB policymakers, including Robert Holzmann, indicated a possibility of a rate increase in benchmark interest rates, while Joachim Nagel of the Bundesbank suggested a cautious approach.

EUR/USD Technical Analysis Daily Chart​

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Technical Overview Of The Currency Pair​


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