EUR/USD Weekly Price Forecast – Euro Recovers For The Week

Euro vs US Dollar Weekly Technical Analysis

The Euro initially fell a bit during the early hours of the week on Monday and then really started to drop as it looked like we were continuing to sell off in general However, since then the ECB is cut rates but sounded like they were going to be somewhat hawkish in the short term so that has turned the euro right back around keep in mind that we have the Federal Reserve and its interest rate decision on the 18th, and I think a lot of people are assuming that they are going to cut, and the question then becomes, do they continue to cut after that?

With that being the case, this is a market that is, I think, going to continue to be very choppy. If we get above the 1.10 level again, then we will more likely than not do whatever we can to test the 1.12 level. Anything above there, then we could have a bigger move. Keep in mind, though, there’s a lot of concerns out there and there’s definitely potential for a risk off move, which of course would help the US dollar. I think the volatility and the choppiness is going to continue because both of these central banks, honestly, are probably going to be cutting over the next year or so, therefore wiping out any real value one way or the other.

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