Euro Forecast: EUR/USD, EUR/JPY, EUR/GBP
Looking ahead at the euro’s performance against major currencies, we see some interesting trends shaping up. The EUR/USD pair is expected to remain range-bound in the near term, with key support at 1.1800 and resistance at 1.2000. Any breakout above or below these levels could signal a new direction for the pair.
Meanwhile, the EUR/JPY pair is likely to see some volatility as traders react to economic data releases from both the Eurozone and Japan. Key support for this pair is at 130.00, while resistance is seen at 132.00. Keep an eye on any developments in the global economy that could impact the yen’s strength against the euro.
Lastly, the EUR/GBP pair is expected to remain under pressure as Brexit uncertainties continue to weigh on the pound. Support for this pair is at 0.8500, with resistance at 0.8700. Keep a close watch on any Brexit-related news that could impact the direction of this pair.
Overall, the euro is likely to face some challenges in the coming weeks, but with careful analysis and monitoring of key levels, traders can position themselves to take advantage of any potential opportunities that arise.