EUR/USD: Stays steady above the 1.08 support level.

The EUR/USD has been losing strength over the past few weeks, at a time when stock market indices have also begun to recede.

However, there are indications emerging that the buying strength could regain control of the main currency pair.

This week will be particularly important for the Euro. Investors will focus on several important economic indicators, such as GDP and inflation data, that will be revealed.

Daily Time Frame Chart. Source: xStation 5

On the other hand, the US dollar index is once again testing the downtrend line. If sellers take back control of the price, the EUR/USD pair could recover soon.

Daily time frame Chart. Source: xStation 5

Henrique Tomé,
Analyst Portugal

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Forex Technical analysis

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