🗞️EUR/USD: Weekly outlook
EUR/USD ended the first week of February near 1.1820, holding above the key 1.1800 level. After peaking at 1.2080 in January, upside momentum has slowed, but selling pressure has eased.
🔹 United States:
The US Dollar weakened amid budget uncertainty and delayed key data releases. This week’s focus is on NFP, CPI, and Retail Sales, which could restore volatility and shape USD demand.
🔹 Eurozone:
Macroeconomic data remains mildly encouraging, but the ECB left policy unchanged again, keeping a neutral stance. The Euro lacks a strong catalyst but downside is limited.
🔹 Technical view:
The pair remains neutral-to-bullish as long as it stays above the 20-day SMA (~1.1770). RSI near 52 signals consolidation.
📌 Bottom line:
US data will be the main driver this week. Strong numbers may boost the Dollar, while weak data could allow EUR/USD to resume its upward move.