The currency pair declined last week and has tested the ascending trend line. US Labor Market data has positively influenced EUR/USD as the releases were weaker than expected. The currency pair gained some previously lost positions.
The growing tensions in the Middle East added some negative to the currency pair fluctuations. Investors have quickly calculated their risks and knock downed almost all risky currency pairs, offering USD a chance to dominate for some time.
However, weak US data has changed the situation completely. We expect the US Dollar to become even weaker in the nearest future and the currency pair to move above the ascending trend line.
The growing tensions in the Middle East added some negative to the currency pair fluctuations. Investors have quickly calculated their risks and knock downed almost all risky currency pairs, offering USD a chance to dominate for some time.
However, weak US data has changed the situation completely. We expect the US Dollar to become even weaker in the nearest future and the currency pair to move above the ascending trend line.