Even though the U.S. and Europe agreed on tariffs, Europe must invest $750 billion in the U.S. and accept other difficult conditions. These conditions created worries about the European economy, which pushed the euro down. Also, many people who had been buying euros instead of U.S. dollars are now stopping, so the support for the euro is weaker.
The euro has fallen below its rising trend line and also below the important support level near 1.15. This means the upward trend may have ended, and the euro might have reached its peak.
Today’s U.S. central bank (FOMC) meeting could change this. If the bank shows it wants to lower interest rates, it could help the euro rise again. But if the euro does not go back above the trend line, a stronger fall may begin.
EUR/USD Forecast Range: 1.1450 – 1.1650 USD
Note: This information does not guarantee profit. Please decide for yourself when trading.