EUR/USD rose on Thursday, gaining seven-tenths of a percent and clawing back toward the 1.0600 handle.
EUR/USD gained 0.7% on Thursday as the Greenback relaxes. European Retail Sales growth slowed in October, ECB rate cut expected. US NFP jobs additions report on Friday to draw heavy investor attention. European Retail Sales beat median market forecasts in October, but still fell compared to the previous month. The European Central Bank is broadly expected to deliver another quarter-point rate cut next week, and market sentiment is tilting risk-on ahead of Friday’s US Nonfarm Payrolls jobs print.
EUR/USD price forecast The EUR/USD daily chart reflects a consolidative phase following a steep downtrend that dominated the pair’s trajectory since mid-July. After peaking near 1.1270, EUR/USD witnessed a pronounced decline, breaking below key support levels, including the 200-day EMA, now at 1.0834, and the psychological 1.0600 mark. This downtrend culminated in a recent low near 1.0450 in late November, which now acts as a critical support level.
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