EUR/USD Weekly Forecast: Bears To Target 1.17 Amid Stronger Dollar

What’s Next to Watch in EUR/USD?

We have two important events which can trigger higher volatility in the EUR/USD. They are ECB refinancing rate and monetary policy statement followed by the ECB press conference. Additionally, we have US unemployment claims figures which can also impact the market.

EUR/USD news

EUR/USD Technical Forecast: More Fall to Come?

The EUR/USD has stabilized near the level of 1.18. The relative strength indicator has corrected to the neutral zone. The bullish potential is limited by the downtrend line, which indicates the weakening of the European currency.

Thus, the EUR/USD forecast for the week of July 19-23, 2021, is expected to depreciate towards the lows of the year. The breakdown of the level of 1.17 will open the way to the psychological level of 1.15.

EUR/USD Daily Chart Forecast

EUR/USD daily chart forecast

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