EURUSD Technical Analysis – The risk-off sentiment weighs on the pair
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The EURUSD pair fell below the 1.09 handle and extended the drop due to risk-off sentiment. The USD has been rallying against major currencies, although the trigger is unclear. The market expects at least two rate cuts by the end of the year. The US economy remains resilient, supporting risk sentiment. Trump's potential win and inflationary policies may slow down rate cuts. The ECB continues to wait for data before deciding on a rate cut. On the daily chart, EURUSD fell below 1.09 and sellers are targeting the 1.0812 support. On the 4-hour chart, sellers are leaning on a downward trendline and targeting a break below 1.0812. On the 1-hour chart, there is consolidation at the 1.0850 level. Upcoming catalysts include US Jobless Claims figures, US Q2 Advance GDP, Tokyo CPI, and US PCE reports.

#Eurusd #TechnicalAnalysis #RiskoffSentiment

https://www.forexlive.com/technical-analysis/eurusd-technical-analysis-the-risk-off-sentiment-weighs-on-the-pair-20240725/