EURUSD continues to decline
Updated
Dear friends, Currently, EURUSD is facing difficulties in attracting any meaningful buyers after receiving conflicting signals about the next policy move from the European Central Bank (ECB). In fact, the current market price indicates a 30% chance of interest rate cuts in March. This suggests that Deputy Chairman Luis de Guindos stated on Thursday that it is not yet time to discuss ECB interest rate cuts. This may prevent traders from placing any bullish bets on the Euro, indicating that the least resistant path for the EUR/USD pair is downwards and any corrective rebounds are likely to be sold into.
Furthermore, US bond yields and broader risk sentiment can affect the momentum of the USD, thus creating short-term trading opportunities around the EUR/USD pair.
At the time of writing, the price is trading at 1.0672, and in the short term, I expect the level of 1.0502 to be retested before any price momentum pushes it higher again.
Furthermore, US bond yields and broader risk sentiment can affect the momentum of the USD, thus creating short-term trading opportunities around the EUR/USD pair.
At the time of writing, the price is trading at 1.0672, and in the short term, I expect the level of 1.0502 to be retested before any price momentum pushes it higher again.
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