FX.co ★ Hot Forecast for EUR/USD on 29.10.2024

Recently, the euro has fluctuated upward, often without any specific reason. It's clearly largely oscillating around the 1.08 mark, with movements merely representing minor deviations from this level. Given that this week is sparse on macroeconomic data, this situation will likely continue until Friday. Additionally, with the U.S. presidential elections set for next Tuesday, the uncertainty intensifies, as the outcome remains highly unpredictable and the media portray the two candidates as complete opposites. In other words, the atmosphere is tense, and few are willing to take risks in such a setting. Therefore, this stagnation may well extend into the middle of next week.