- EUR/USD: 1.0950 is a key level in the current market structure.
- Bears need to break below 1.0850 or face continued bullish momentum.
The USD remains within forecast pattern and below 1.0950 ahead of critical data on Thursday and the Fed’s (Federal Reserve) decision next week.
EUR/USD Prior Analysis
Bears continue to look for key resistance and there are prospects of a break down by the end of the week. If the price were to sink below 1.0850, it could be a significant event.
However, a test of the stops above 1.0950 could be on the table to go higher before lower, so the London session could be playing a key role ahead of the American session.
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.