In Friday’s session, the EUR/USD soared to 1.0730, closing a 1.
EUR/USD gained more than 1% on Friday, rising near 1.0730. The USD, measured by the DXY index, will close with a 1.40% weekly loss. The dovish stance of the Fed and weak NFPs from October made the USD tumble. 50% gaining week, its best performance since mid-June. The daily market movers for the pair included a broad USD weakness due to the Federal Reserve changing its tone to a more dovish approach and hinting that it is approaching to the end of its tightening cycle on Wednesday.
Until December, the bank will get two additional inflation readings and an extra jobs report. EUR/USD Levels to watch Upon evaluating the daily chart, a neutral to bullish outlook for the short term is seen, with the bulls gradually recovering their strength. The Relative Strength Index points upwards in the bearish territory, hinting at a potential shift in momentum and bullish resurgence, while the Moving Average Convergence histogram presents bigger green bars.
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