EUR/USD Forecast: Faces Pressure as US Dollar Strengthens

EURUSD Faces Pressure as US Dollar Strengthens

At the end of the day, the euro faced downward pressure during Thursday's trading session, driven by a strengthening US dollar.experienced a slight decline during Thursday's trading session as the US dollar continued to recover.

Moreover, recent soft data from Europe raises questions about a potential slowdown in the European Union economy.On the upside, the 50-Day EMA near the 1.09 level acts as a resistance area with previous support history. This level holds some market memory, exhibiting signs of resistance. In a recent attempt, the market briefly broke above the 50-Day EMA but was quickly rejected. If that continues to be the case, then the market could continue to see selling.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

Daily_Forex /  🏆 567. in US

Canada Latest News, Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

EUR/USD Technical Analysis: Nearest Buying LevelsPositive US retail figures and weak economic confidence in the euro zone, led by Germany, are factors that contributed to the downward pressure
Read more »

EUR/USD Price Analysis: A breach of 1.0800 appears in storeEUR/USD maintains the bearish price action and slips back to the vicinity of the 1.0800 neighbourhood on Wednesday. The 1.0800 area appears supported
Read more »

EUR/USD could reach 1.20 by year-end – INGING’s year-end target for EUR/USD now sits at 1.20. The bumpy path to a higher EUR/USD “Based on our view that the Fed tightening cycle is over and th
Read more »

EUR/USD stumbles to six-week low sponsored by advancement in US debt ceiling discussionsEUR/USD continued to trend lower on Wednesday and reached a new six-week low of 1.0810 on optimism around the US debt ceiling talks amidst a tranche o
Read more »

EUR/USD Price Analysis: Struggles to defend bounce off 100-DMA below 1.0900 resistance confluenceEUR/USD Price Analysis: Struggles to defend bounce off 100-DMA below 1.0900 resistance confluence EURUSD Technical Analysis ChartPatterns SupportResistance SwingTrading
Read more »

EUR/USD rebound above 1.0840 as investors anticipate narrowing Fed-ECB policy divergenceThe EUR/USD pair has shown some recovery from the immediate support of 1.0835 in the Asian session. The major currency pair is expected to accelerate
Read more »