Euro / U.S. Dollar
Short
Updated

EURUSD remains in a downtrend

120
EUR/USD continues to move within a descending channel, with the 1.1600 area acting as strong resistance. Recent price action suggests the current rebound may be just a retest before the downtrend resumes. The next bearish target is around the 1.1390 support zone.

On the news front, although a strong U.S. PMI puts slight pressure on EUR, the USD faces mixed forces:
Weak NFP data increases expectations of a Fed rate cut.
The new US–EU trade deal imposing a 15% tariff has sharply weakened the euro.
Eurozone PMI improved but remains below 50, indicating a still-fragile recovery.
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