EUR/USD Price Forecast – Euro Is Still Sluggish but Positive

The Euro has rallied rather significantly during the trading session on Monday but continues to struggle little bit above at the 1.1450 level. At this point in time, the market pulling back will more than likely find buyers right around the 1.14 handle and offer value the people are willing to take advantage of. All things being equal, I think that the Euro will eventually try to break out, but the real proof will be once we get a daily close above the 1.15 handle, which would show a massive breakout and perhaps even a longer-term trend change.

EUR/USD Video 21.07.20

If we do get that trend change, this could be something that lasts for months, if not years. After all, the Forex market takes a lot to turn things back around into the other direction, but what we have seen of the last couple of months has been rather interesting. If we were to break down below the 1.12 level on some type of break down, that would be an extraordinarily negative turn of events, and it would crush the idea of a trend change again.

That being said, it certainly looks as if the sellers will be struggling to turn things around in this general vicinity with the Federal Reserve loosening its monetary policy the way it has, and the European Union possibly coming up with some type of coronavirus stimulus package, which could spur growth in the European Union over the course of the next couple of years. However, those talks are still stalling a bit.

For a look at all of today’s economic events, check out our economic calendar.