EURUSD: Breakout Amid Fed Rate Cut Bets Drives Bullish Trading Outlook
Over the past three trading days, EURUSD showcased notable volatility, rising from yesterday’s close near 1.1649 to an intraday high of 1.1675. The key driver behind this move is the market’s growing expectation of an 85% probability of Federal Reserve rate cuts, which weighed heavily on the US dollar and boosted the euro. Additionally, slightly better-than-expected Eurozone factory orders and industrial production data supported the EURUSD rally. From an investor’s perspective, this means increased pressure on the USD and potential continuation of the EUR bullish momentum, making pullbacks to key support levels attractive for long entries. Upcoming US and Eurozone data, especially US personal consumption and consumer sentiment figures, remain crucial for the next directional cues.


