EURUSD is clearing to facilite the Bullish trend

EURUSD is clearing to facilite the Bullish trend with superb support

After finishing in positive position on Monday, the EUR/USD pair bounces around 1.0850 in the early European session on Tuesday. A better risk appetite may make it more difficult for the US Dollar (USD) to find buyers and support the pair's short-term rebound.

The EUR/USD pair gained momentum at the start of the week due to the little selling pressure on the USD.


Three rate decreases in 2024, according to Federal Reserve Bank of Chicago President Austan Goolsbee's statement on Monday, make sense. "There are risks to easing policy too much or too soon, as well as too late," Federal Reserve Governor Lisa Cook stated in reference to the policy outlook. There was no discernible market reaction to these conflicting remarks.

The US Census Bureau will make available data on Durable Goods Orders for February later today. In the wake of January's 6.2% contraction, investors anticipate a 1.3% growth. The immediate response to a positive reading may help the USD, but until there is a change in the risk-averse mentality, the currency's gains may be restricted.

US stock index futures are up between 0.2% and 0.4% in the early European session. A positive start on Wall Street may allow the EUR/USD pair to rise further.

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COMMENT, FOLLOW and SUPPORT.

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