Euro / U.S. DollarUpdated pullbacks look for trading opportunities
A modest recovery in the US dollar weighed on the major currency pairs as speculation of a September rate cut by the Federal Reserve mounted.
Relatively weak economic fundamentals in the euro area, coupled with the resilience of the US economy, reinforced forecasts of dollar strength in the medium term, especially given the likelihood of a stronger dollar. The ECB is likely to cut rates earlier than the Fed. In this case, EUR/USD is expected to face a more pronounced decline in the short term.
It is now a clear trend down, pullbacks look for trading opportunities
Relatively weak economic fundamentals in the euro area, coupled with the resilience of the US economy, reinforced forecasts of dollar strength in the medium term, especially given the likelihood of a stronger dollar. The ECB is likely to cut rates earlier than the Fed. In this case, EUR/USD is expected to face a more pronounced decline in the short term.
It is now a clear trend down, pullbacks look for trading opportunities
Note
Possible rise to resistance zone, can reduce position appropriately
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