#EURUSD Weekly Forecast: Get Ready Because Volatility is Coming for Traders (3 June 2024)
The EUR/USD finished trading comfortably above the 1.08000 level this Friday, this as the currency pair and speculators await the European Central Bank’s rate decision this coming Thursday. The EUR/USD is set to begin trading near the 1.08475 mark early tomorrow morning. The currency pair enjoyed a rather solid test of its near-term price range the past handful of days and the ability to go into the weekend perched well above the 1.08000 level is likely being received by companies and investors with an interest in seeing a strong value for the EURO in a positive manner. A low of nearly 1.07860 was tested this past Thursday, but trading below the 1.0800 level proved to be momentary. The price action on late Wednesday ant into early Thursday while lows were tested and the ability of the EUR/USD to then incrementally rise is noteworthy. Also worth a technical glance is the notion that the 1.08100 ratio when tested briefly on Friday proved rather durable and a climb to a high of nearly 1.0