In the Tokyo market, the euro rose from around 1.0900 to 1.0991, showing some strength. But in the European market, it fell back to around 1.0900 again. European stock markets went up after five days of falling. This happened because the EU showed a willingness to talk with the U.S. about tariffs, which helped support the euro.
Later, in the New York market, the euro was bought again and rose to 1.0977, but it did not reach the high seen in Tokyo.
On the same day, the head of Lithuania’s central bank said that a 0.25% interest rate cut may be needed in April. This made people expect lower interest rates in the EU.
Last week, the euro reached a high of 1.1145 but could not rise above last September’s high of 1.1213. It then started falling again, forming a pattern called a “double top,” which often means prices may go down.
Because of this, the euro may have a hard time rising further.
EUR/USD Forecast Range: 1.1010 – 1.0850
Note: This information is not a guarantee of profit. Please make your own decisions when trading.