EUR/USD remains depressed despite upbeat Eurozone GDP data

💡 DMK Insight

The Euro’s decline against the Dollar signals a potential shift in market sentiment. Trading below 1.1860 after hitting a weekly high of 1.1928 suggests that sellers are gaining control. This could be influenced by recent economic data out of the Eurozone, which may not be as robust as anticipated, leading traders to reassess their positions. If the Euro breaks below the 1.1850 support level, we could see further downside, potentially targeting 1.1800. On the flip side, a rebound above 1.1900 could indicate a short-term recovery, but that seems less likely given the current momentum. Keep an eye on upcoming economic indicators from both regions, as they could provide the catalyst for either a continuation of this trend or a reversal. For now, monitor the 1.1850 level closely; a decisive break could trigger a wave of selling pressure, while a bounce could offer a short-term buying opportunity.