EUR/USD Under Downward Pressure from ECB Decision
How is the EUR/USD pair fluctuating today? Let’s find out together!
The EUR/USD pair remains steady at 1.0884 after four consecutive sessions of decline. However, selling pressure on the Euro persists, especially as the market is heavily pricing in the likelihood of the European Central Bank implementing monetary easing policies.
From a technical analysis perspective, the pair is in a downward trend, with the EMA line continuing to move lower steadily. Resistance at 1.0949 has prevented any upward movement, forcing the pair to retreat towards its previous support at 1.0883.
This is my take. What do you think about the EUR/USD pair today?
The EUR/USD pair remains steady at 1.0884 after four consecutive sessions of decline. However, selling pressure on the Euro persists, especially as the market is heavily pricing in the likelihood of the European Central Bank implementing monetary easing policies.
From a technical analysis perspective, the pair is in a downward trend, with the EMA line continuing to move lower steadily. Resistance at 1.0949 has prevented any upward movement, forcing the pair to retreat towards its previous support at 1.0883.
This is my take. What do you think about the EUR/USD pair today?
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