EUR/USD Technical analysis

Note: This section contains information in English only.
Source: Dukascopy Bank SA
In the short term, the EUR/USD is trading within a descending channel, which could indicate further downward movement. If this bearish pattern continues, the pair may move lower to test the key support level around 1.16100, potentially closing the gap created in previous sessions.

However, there is also potential for short-term bullishness. If the U.S. dollar weakens due to softer economic data, dovish Fed signals, or declining Treasury yields, the EUR/USD may find renewed upward momentum. A weaker dollar typically supports the euro, and any signs of easing inflation or slowing growth in the U.S. could shift market sentiment in favor of a euro rebound.
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