EUR/USD Forecast: Euro bulls could retain control while 1.0750 holds as support

EUR/USD trades in a tight range above 1.0750 early Monday. Near-term technical outlook suggests that the bullish bias remains intact. Comments from Fed officials and risk perception could drive the pair's action. The technical picture suggests that the pair could stay bullish in the near term. The disappointing data releases from the US caused the US Dollar to weaken against its rivals on Friday and helped EUR/USD stretch higher ahead of the weekend.

EUR/USD is the most heavily traded currency pair in the world, accounting for an estimated 30% off all transactions, followed by EUR/JPY , EUR/GBP and EUR/AUD . What is the ECB and how does it impact the Euro? The European Central Bank in Frankfurt, Germany, is the reserve bank for the Eurozone. The ECB sets interest rates and manages monetary policy. The ECB’s primary mandate is to maintain price stability, which means either controlling inflation or stimulating growth.

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