FX.co ★ EUR/USD

The EURUSD pair is showing a downward trend, driven by increased demand for the US dollar as a safe haven asset amid geopolitical instability. Additional pressure on the euro comes from pessimistic economic forecasts for the eurozone, including deteriorating business activity and inflationary pressures. Even the prospects of the European Central Bank tightening monetary policy are unable to offset the current risks that have a dominant influence. The pair has reached the initial target at the level of 1.14660. Today, we continue to look for selling opportunities with the first target at 1.14038, as well as a second target, working out the average weekly range at the level of 1.13675. We expect the formation of a reversal pattern in the price range of 1.14872–1.15076 and open a selling position.