The EUR/USD seems quite comfortable near level 1,1600. In theory, it has had enough consolidation if you want to move higher again, although there seems to be no catalyst for that this week, says Chris Turner, an Ing currency analyst.
EUR to consolidate within the range of 1,1550-1,1720 last week
“The approach in Europe will be at the European Central Bank meeting on Thursday. We doubt that the president of the ECB, Christine Lagarde, agitates things too much before the summer break of the Central Bank, although there may be some continuous concerns about the recent strength of the euro and particularly about the direction of the tariff EUR/USD currencies in the two -week tenor suggests that investors are again cautious before the new tariff period of August 1. “
“In addition to the ECB this week, we have the Julio PMIs for the region, also on Thursday. These are around the area of 50, but economists will be attentive to the inventory data in search of signs that stocks have been exhausted and may require reabrasing. Likewise, the publication of the German IFO on Friday should show a continuous optimism in the component of expectations brought In infrastructure, even in 2026. “
“The EUR/USD has found support below 1.16. There is no solid case to get much more this week, and consolidation within the range of 1,1550-1.1720 last week is our forecast.”
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
