📊 Market Analysis: What Factors Are Driving EUR/USD Downward? 📉

Product: EUR/USD

Prediction: Decrease

🟢Fundamental Analysis:

EUR/USD extended its weekly downtrend, reaching its lowest level in 10 weeks at 1.0811 during the American trading hours on Thursday. Although the pair is trading in positive territory near 1.0850 in the European morning on Friday, the technical outlook does not yet indicate a buildup of recovery momentum. The European Central Bank (ECB) lowered key rates by 25 basis points (bps) as expected following the October policy meeting. In its policy statement, the ECB noted that it will continue to follow a data-dependent and meeting-by-meeting approach to determine the appropriate level and duration of policy restrictions.

🔵 Technical Analysis:

EUR/USD extended its weekly downtrend, hitting a 10-week low at 1.0811 during Thursday's American trading hours. Although the pair is currently trading near 1.0850 in positive territory on Friday morning, the technical outlook does not yet show signs of recovery momentum. Key resistance levels may need to be monitored, while support remains weak given the recent downtrend. The market's response to the European Central Bank's (ECB) 25 basis point rate cut, as well as its commitment to a data-dependent approach, will be crucial in shaping future price movements.

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