The EUR/USD pair starts this new week under slight pressure, in line with last week's fall, and ahead of several key events in the over the next few days.
Remember that last week was very busy. marked by better than expected American statistics, which reinforced the Dollar, without taking into account the still tense geopolitical context which also favors the rise of the greenback, a safe haven.
As for important events for EUR/USD this week, forex traders will start by watching preliminary GDP and CPI figures from Germany.
Tomorrow, it will be France's GDP and US consumer confidence that will be monitored, before the ADP report (EPA:ADP), the JOLTS report, the manufacturing ISM and especially the Fed meeting Wednesday, then the NFP report on Friday.
>> Find in real time the results of all the important statistics for EUR/USD in the Investing.com economic calendar!
Without doubt, the The Fed union will be the most important event for the Euro Dollar. According to Investing.com's Fed Rate Barometer, forex traders are almost convinced that the central bank will refrain from raising rates.
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However, given the strength of US statistics recently, investors will be looking to ; know, thanks to the details of Wednesday's meeting, if it is possible that the Fed will raise its rates in December.
If it indeed remains open to This possibility, the Dollar should jump, and the EUR/USD fall.
Technical thresholds at to watch on EUR/USD
From a graphical point of view, we recall that the EUR/USD pair broke; at the end of last week under an upward trend line which has been stretching since the beginning of October, thus sending a bearish signal.
If the fall continues, last week's low at 1.0522, the threshold of 1.05 and the yearly low of 1.0450 will be the first downside targets at the end of the year. consider. If, on the contrary, the Euro Dollar rebounds, 1.06, 1.0635 and 1.07 will be the first significant obstacles.
The EUR/USD threatens to continue its fall at the start of an extremely busy week