EUR/USD - Review from October 18, 2024

Financial and commodity markets analytics


On Thursday, as expected, the European Central Bank decided to lower the key rate. The EUR/USD pair quotations continued the downward trend. However, the Regulator's decision was expected and was already factored into the price. In this regard, there is a possibility of the beginning of a correction phase of growth. At the moment, the price found support, approaching the area of 1.0780-1.0810. In case of growth initiation, however, a retest of this range is possible. If the decline continues, the next support can be found around the level of 1.0740.