Euro Technical Outlook: EUR/USD Poised for Breakout Ahead of ECB
Euro is trading above pivotal support for a fifth-consecutive week with the July range intact heading into the ECB tomorrow. Battle lines drawn.
Share this:
Euro Technical Outlook: EUR/USD Multi-Timeframe Analysis
Michael Boutros, Senior Market Analyst at FOREX.com, examines EUR/USD, the European Central Bank, and the critical technical levels that could determine the pair's next major move. With the ECB expected to leave interest rates unchanged, attention turns to Christine Lagarde's guidance, widening policy divergence with the Federal Reserve, and how rising energy prices could complicate the euro's outlook.
This content was created by an affiliate of FOREX.com and represents the views and opinions of the author/speakers, not the views and opinions of Forex.com, StoneX Group Inc., or its subsidiaries. The content has not been independently reviewed by FOREX.com.
Key EUR/USD Economic Data Releases
Economic Calendar - latest economic developments and upcoming event risk.
Active Short-term Technical Charts
- Australian Dollar Outlook: AUD/USD Rally Tests Make-or-Break Resistance
- Japanese Yen Short-term Outlook: USD/JPY Defends the Uptrend as the Range Tightens
- British Pound Short-term Outlook: GBP/USD Breakout Attempts Major Trend Reversal
- US Dollar Short-term Outlook: USD Uptrend Faces Make-or-Break Test After CPI
- Gold Price Short-term Outlook: XAU/USD Bulls Try to Carve Out a Low After 30% Drop
- Swiss Franc Short-term Outlook: USD/CHF Overbought Rally Tests Major Resistance
Written by Michael Boutros, Senior Technical Strategist
Follow Michael on X @MBForex
The complete CFD trading experience
Award-winning platforms, competitive spreads, low commissions and dedicated support.
We live and breathe the markets and are dedicated to helping traders realise their ambitions as we continue to set the industry bar.
Economic calendar
Web Trader platform
Our sophisticated web-based platform is packed with features.
Related articles
USD/JPY weekly outlook: Quarter turn scrambles rates regime
USD/JPY’s tight relationship with front-end US rates broke down sharply last week, but quarter-turn flows and positioning suggest the disconnect may prove temporary.
USD/CAD forecast: rally could accelerate above June highs at 1.4250
USD/CAD recovered quickly after weaker US jobs data, keeping the bullish trend in focus. A move above the June highs could accelerate the rally as inflation keeps the Fed under pressure.
USD Sets Fresh Yearly High as EUR/USD Drops Dramatically, USD/JPY Stable
Well, it was a week of USD strength that wasn’t entirely pushed by USD/JPY, as a strong sell-off in EUR/USD has pushed the major pair to its most oversold state in a decade.
StoneX Europe Ltd may make third party material available on this website which may contain information included but not limited to the conditions of financial markets. The material is for information purposes only and does not contain, and should not be construed as containing, investment advice and/or investment recommendation and/or an investment research and/or an offer of or solicitation for any transactions in financial instruments; any decision to enter into a specific transaction shall be made by the client following an assessment by him/her of their situation.
StoneX Europe Ltd makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or other information supplied. You should always seek independent advice as to your suitability to speculate in any related markets and your ability to assume the associated risks, if you are at all unsure. We are not under any obligation to update any such material. Any opinion made may be personal to the author and may not reflect the opinion of StoneX Europe Ltd.