Euro / U.S. DollarShort
EUR/USD Declines to 1.0300 Amid Persistent Bearish Sentiment
Updated
EUR/USD dropped to 1.0300 during the early Monday session, as a slightly risk-on market tone counterbalanced a constrained US Dollar, putting pressure on the currency pair.
The pair faced significant bearish pressure on the first trading day of 2025, hitting its weakest level in over two years at 1.0224. Although EUR/USD managed to recover to the 1.0300 level by Friday morning in Europe, the technical outlook suggests that the short-term bearish trend remains intact.
The broad strength of the US Dollar (USD) weighed heavily on EUR/USD on Thursday. Data from the US Department of Labor revealed that Initial Jobless Claims fell to 211,000 for the week ending December 28, down from the previous week's 220,000. This figure came in below market expectations of 222,000, boosting the USD. Additionally, the cautious market sentiment added further pressure to EUR/USD.
From a personal perspective, after the recent correction and a retest of the EMA 34, EUR/USD is expected to extend its downward movement in alignment with the prevailing bearish trend.
The pair faced significant bearish pressure on the first trading day of 2025, hitting its weakest level in over two years at 1.0224. Although EUR/USD managed to recover to the 1.0300 level by Friday morning in Europe, the technical outlook suggests that the short-term bearish trend remains intact.
The broad strength of the US Dollar (USD) weighed heavily on EUR/USD on Thursday. Data from the US Department of Labor revealed that Initial Jobless Claims fell to 211,000 for the week ending December 28, down from the previous week's 220,000. This figure came in below market expectations of 222,000, boosting the USD. Additionally, the cautious market sentiment added further pressure to EUR/USD.
From a personal perspective, after the recent correction and a retest of the EMA 34, EUR/USD is expected to extend its downward movement in alignment with the prevailing bearish trend.
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