- EUR / USD Outlook shows the euro expansion of fiest gains.
- The Fed’s Chris Waller said it was okay with the cutting of the July rate.
- Traders expect ECB to pause this week.
The prospect of EUR / USD indicates that the euro will probably extend its winnings from Friday, while the dollar pauses its rally. The decline came after the Fed comment, revealed that some policy makers were open to reducing the rate in July. However, the overall appearance moved from last week’s information on inflation inflation.
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The dollar gained last week due to a falling role on schedule at the feedback rates, in the midst of filled American data. However, Friday, Fed’s Chris Waller said it was okay with a cut in July, because tariffs will probably have a small influence on inflation. This briefly weakened the dollar on Friday. However, most policy makers, including Powell, will probably take care of the future.
Participants in the market expect major tariffs to take effect from 1. August. Such an outcome would deteriorate influence on inflation, leading to further delay in reducing feet. However, Trump continued his criticism of Powell last week. The American president calls for lower interest rates. Meanwhile, the conditions do not appear favorable to feed the borrowing rates this year.
Meanwhile, traders expect the ECB to be paid again at a meeting this week. The central bank has met most of its goals, allowing it to catch his breath. However, the risk of larger tariffs could change that.
EUR / USD Key events Today
Today participants do not expect key economic reports today. Therefore, the price will probably extend the move on Friday.
EUR / USD Technical Outlook: Bulls Eye 1.1800 Resistance After SMA PAUSES
On the technical side, EUR / USD price has violated above 30ths, showing that the bulls have taken control. At the same time, the RSI violated over 50, suggesting stronger swing. Feeling moved after the price met the solid level of support that contains 1,1600 key levels and levels of 1,618 FIB Downloads.
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Initially, the price was on the trend that began at the level of 1,1800. He traded below 30th, respecting him as resistance. At the same time, the RSI maintained its position below 50, supporting the bear momentum. However, the bars failed below the support zone of 1,1600.
As a result, the bulls appeared and pushed the price above the SMA. If they maintain this new direction, EUR / USD will target the resistance of 1,1800. Otherwise, the bears will re-set the support zone.
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