The euro stayed weak because the U.S.-UK trade deal news made people buy more U.S. dollars. However, the European Commission warned that if talks on tariffs with the U.S. fail, they will add 95 billion euros in new tariffs against the U.S.
Later, in the New York market, U.S. long-term interest rates went up, and the euro dropped below its recent low of 1.1127 and fell to 1.1072, closing near the lowest point of the day.
Because the euro went clearly below the upward trend line, there is a strong chance that selling will continue. Still, many investors are buying the euro against the yen, which helps support the euro-dollar pair. So, the fall may be slow and not too sharp.
EUR/USD Forecast Range: 1.1150 – 1.1280
Note: This information does not guarantee profits. Please make your own decisions when trading.