26 September, 2022
The European currency falls for the fifth trading session in a row in tandem with the dollar, updating 20-year lows. The dynamics of the euro are weighed down by fears of a recession in the region amid the energy crisis.
At the same time, the dollar index, which reflects the dynamics of the US currency against a basket of other major currencies, for the first time since 2002 exceeded the level of 114 points. The dollar rally is supported by the continuation of the aggressive policy of tightening monetary policy by the US Federal Reserve to stabilize inflation in the country.
EUR/USD Forecast Euro Dollar September 27, 2022
The EUR/USD (Euro Dollar) currency pair showed the expected development of a downward impulse within the trading channel after fixing below the key level 1. The relative strength indicator is correcting to the neutral zone after testing the support level, the downward trend line limits the recovery of the European currency. Thus, the EUR/USD forecast Euro Dollar September 27, 2022, provides for consolidation in the range of 0.9700-0.9750, from where the strengthening of the dollar will resume.