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Have you been keeping an eye on the Euro vs US Dollar pair? Our expert analysis can give you the edge you need to make informed trading decisions. Let’s dive into the weekly technical analysis:
Despite an initial rally, the Euro took a hit after the ECB meeting, hinting at potential rate cuts in the future. This uncertainty has kept the market in a tight range, with traders experiencing a lot of back and forth movement between key support and resistance levels.
Looking at the weekly chart, we can see the Euro bouncing between levels such as 1.07, 1.08, and 1.09. The market has been predominantly sideways and volatile, creating a challenging environment for traders. Over the past two years, the Euro has been locked in a 500 pip range, adding to the complexity of predicting its next move.
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