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Welcome to Extreme Investor Network, where we provide you with exclusive insights and analysis on the latest trends and movements in the stock market. Today, let’s dive into a weekly technical analysis of the Euro vs US Dollar pair.
The Euro initially saw a drop at the beginning of the week, but with the recent ECB rate cut and indications of a somewhat hawkish stance in the short term, the Euro has made a quick turnaround. However, the upcoming Federal Reserve interest rate decision on the 18th leaves uncertainty in the market – will they cut rates, and if so, will they continue to do so in the future?
As a result, we expect this market to remain choppy in the coming days. If the Euro manages to break above the 1.10 level, we can expect a push towards testing the 1.12 level. A breakthrough beyond that could lead to a larger move. However, with ongoing concerns and the potential for a risk-off move favoring the US dollar, volatility is likely to persist. Both central banks are anticipated to continue cutting rates, potentially erasing any significant value in either direction.
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