The EURUSD pair is set for another week of trading, and traders are eagerly anticipating what could lie ahead. Last week, the pair saw some volatility as the European Central Bank’s decision to keep interest rates unchanged impacted the market. This week, all eyes will be on the upcoming US Federal Reserve meeting, where interest rate decisions could potentially affect the pair’s movement.
Technical analysis suggests that the EURUSD pair is currently trading within a range, with support at 1.1200 and resistance at 1.1400. Traders will be watching closely to see if the pair breaks out of this range and establishes a new trend.
In terms of economic data, key reports to watch out for include the US non-farm payrolls data, as well as any updates on the ongoing trade tensions between the US and China. These factors could potentially influence the pair’s movement in the coming week.
Overall, traders should be prepared for potential volatility in the EURUSD pair as economic data and central bank decisions continue to impact the market. Keeping a close eye on key levels and being aware of any major news events will be crucial for navigating the currency pair in the week ahead.