Hello everyone, following last week's sharp decline, EURUSD appears to have stabilized, with prices not showing significant changes from the start of the week, hovering around 1.063.
The downward trend remains intact, and the descending trendline continues to be effective, favoring sellers. Looking ahead, the relatively weak economic foundations in the Eurozone, coupled with the resilience of the U.S. economy, further boost expectations for a stronger dollar in the medium term, especially considering the European Central Bank (ECB) might lower interest rates before the Federal Reserve does. In such a scenario, EUR/USD is expected to experience a further significant decline from a short to medium-term perspective.
The downward trend remains intact, and the descending trendline continues to be effective, favoring sellers. Looking ahead, the relatively weak economic foundations in the Eurozone, coupled with the resilience of the U.S. economy, further boost expectations for a stronger dollar in the medium term, especially considering the European Central Bank (ECB) might lower interest rates before the Federal Reserve does. In such a scenario, EUR/USD is expected to experience a further significant decline from a short to medium-term perspective.
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