EURUSD market analysis today

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Greetings, dear readers! After a day has passed, EUR/USD continues to extend its upward movement for four consecutive days. It traded higher around the 1.0760 level during the Asian trading session on Wednesday. It is evident that this currency pair is receiving support due to an anonymous source claiming that the European Central Bank (ECB) has raised its internal inflation forecast ahead of this week's policy meeting on Thursday.

Wishing you all a wonderful day ahead.

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EUR/USD positions are clearly still long EUR. Given that the longs are facing adverse rate trends, domestic and international (especially Chinese) growth concerns, the threat of capitulation dragging EUR/USD closer to parity can’t be ignored.

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good luck everyone

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EU is reducing prices