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EUR/USD extends holding pattern ahead of PMIs

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EURUSD News

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EUR/USD extends its holding pattern of the last few days, trading in the mid 1.0600s on Tuesday, prior to the release of potentially market-moving purchasing manager survey data.

EUR/USD trades in a range in the mid 1.0600s ahead of key PMI data for the US and Eurozone. The pair has formed a Bear Flag price pattern suggesting the potential for a steep decline. Preliminary Purchasing Manager Indexes for April in both the United States and Europe are scheduled for release later in the day and could impact the exchange rate.

0800, where a cluster of major Moving Averages coils. Euro FAQs What is the Euro? The Euro is the currency for the 20 European Union countries that belong to the Eurozone. It is the second most heavily traded currency in the world behind the US Dollar. In 2022, it accounted for 31% of all foreign exchange transactions, with an average daily turnover of over $2.2 trillion a day.

 

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