FX.co ★ EUR/USD

Hello traders! Market concerns regarding the US Federal Reserve's interest rate cut have subsided, and the key point to note is that our prediction was correct: there were no market shocks if the forecast was met. As we can see, the market reacted insignificantly, and the EUR/USD currency pair, in particular, continues its sideways trend that started long ago. Therefore, bears were only able to retest the pair's minimum at 1.1580 from October 22 of this year, without breaking below the lower boundary of the Trendline Moving Average indicator, whose lines are moving horizontally, emphasizing the sideways movement. At the moment, bulls have already pushed the EUR/USD pair higher, aiming towards the upper boundary of the sideways range at the level of 1.1665. However, I believe they won't go above this level either, potentially initiating a new downward wave from there within the current sideways range.