Yesterday, the European Central Bank (ECB) lowered its interest rate by 0.25% to 2.65%, as expected. The ECB’s statement suggested that inflation is slowing down and financial policies are becoming less strict. Because of this, the euro rose to 1.0853.
However, concerns about tariffs and the Ukraine situation caused the euro to fall again by the end of the day. On the daily candlestick chart, a “Doji” pattern appeared, which often signals a price peak.
Today, before the U.S. job report is released, the market may move up and down. However, in the end, selling pressure on the euro is expected to increase.
EUR/USD Price Range Forecast: 1.0850 – 1.0660
Note: The above information does not guarantee profits. Please make your own decisions when trading.