EUR/USD Price Forecast – Euro Attempts a Meek Recovery

Euro vs US Dollar Technical Analysis

The Euro has rallied a bit during the trading session on Tuesday but has given back early gains as we continue to see a lot of noisy behavior. Selling pressure has not been relinquished quite yet, and quite frankly I don’t know that it will anytime soon. Ultimately, this is a market that is going to continue to go lower, and therefore I think it is more likely than not that we are going to see drastic pressure every time we do try to rally.

The Euro continues to suffer at the hands of an economy that has to deal with energy shortages, and quite frankly the same economy struggles with the entire idea of growth as well. At this point, the market has fallen rather hard, and this small balance does not do a lot to convince me that the trend is going to change. In fact, the market looks as if it is going to continue to find plenty of reasons to short this market.

At this point, it looks as if the 50 Day EMA is going to continue to see sellers defending it as it should continue to be a major dynamic resistance barrier. Above there, we have the 1.08 level, and that the 1.09 level after that. It’s not until we break above the 1.09 level that the market is going to change its overall attitude.

At this point, I believe that the EUR/USD pair is going to go down to the 1.03 level, and then possibly the 1.00 level by the end of summer. Pay attention to the bond markets in both Germany and the United States, because that interest-rate differential will continue to drive or we go next.

EUR/USD Price Forecast Video 15.06.22

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