Forecast for Thursday: Today, the currency pair has been strongly bought, and therefore we should see a correction but .... tomorrow, we have a whole packet of data from Europe and the USA. Therefore it may be quite high . Of course, every good data from the EU and the worse the US will support the euro and vice versa.
From a technical point of view, the currency pair reached the resistance 1,1170-1,1220 mentioned yesterday, should turn south in the vicinity of 1,1034-1,1045. It is difficult to unequivocally determine how the currency pair will behave tomorrow because we can expect mood swings. A more likely scenario is a correction after the recent rally and then a retest recent highs.
Today's announcement the Fed is not conducive to the euro , and only new data from the US will help assess the real chances of interest rate hikes in September. Tomorrow should especially pay attention to the CPI and the unemployment rate in the European Union and on the number of initial jobless in the US.
Today, we have not received a clear answer as to the future direction in the medium term for the EUR / USD pair.