EURUSD price analysis week 20🌐Fundamental Analysis
USD gains ground: Thanks to the hawkish tone of the US Federal Reserve (Fed) and the announcement of the UK-US trade deal, the USD strengthened against other currencies, dragging the EUR/USD pair lower in the US session on Thursday.
US Monetary Policy Outlook: The FedWatch tool shows only a 17% chance of the Fed cutting interest rates in June, leaving the USD with room to rise if the Fed maintains a cautious stance.
Euro Outlook Weakens: ECB officials signaled a clear interest rate cut in June, as slowing growth and easing inflationary pressures limit the Euro's upside potential.
🕯Technical Analysis
EURUSD has established a downtrend after breaking through a key technical support zone around 1.12900.
Key support to watch is around 1.1100 and the next zone is the weekly support zone of 1.1000.
During the week, if there is any sign of price increase above 1.129 creating a False break pattern, we will pay attention to the peak area of 1.036 for the SELL strategy.
📈📉Trading Signals
SELL EURUSD 1.03600-1.03800 SL 1.04100
BUY EURUSD 1.11100-1.10900 SL 1.10600
BUY EURUSD 1.10000-1.09800 SL 1.09500
