The European Central Bank is expected to cut interest rates again this week, marking its eighth consecutive reduction as policymakers attempt to support sluggish growth across the eurozone. Markets widely anticipate a 25-basis-point cut, which would bring the deposit rate down to 2.00%.
EUR/USD is testing the upper boundary of a triangle formation visible on the 4H chart. Price action has tightened in recent weeks, and the pair is now attempting a breakout near the 1.1440 zone.
A confirmed close above this resistance could signal a bullish continuation, with upside targets around 1.1500 and 1.1620. Momentum indicators like RSI could be watched to confirm the strength behind any breakout. On the downside, immediate support possibly rests at 1.1350.
EUR/USD is testing the upper boundary of a triangle formation visible on the 4H chart. Price action has tightened in recent weeks, and the pair is now attempting a breakout near the 1.1440 zone.
A confirmed close above this resistance could signal a bullish continuation, with upside targets around 1.1500 and 1.1620. Momentum indicators like RSI could be watched to confirm the strength behind any breakout. On the downside, immediate support possibly rests at 1.1350.
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Economic Calendar:
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blackbull.com/en/economic-calendar/?utm_source=tradingview
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.