EUR/USD has edged lower on Friday after a remarkable seven-day rally, currently trading at 1.1625. Despite this slight pullback, the currency pair remains poised for a weekly gain of 0.6%, reflecting the Euro's strength against the USD. Traders are closely monitoring upcoming Eurozone GDP data, which could further influence the exchange rate.
The recent upward momentum in EUR/USD has been driven by positive sentiment around the Eurozone's economic outlook. As the market anticipates the GDP figures, fluctuations in the exchange rate could occur, impacting trading strategies. Investors are keen to see if the Euro can maintain its position near these three-week highs or if profit-taking will occur in response to the data release.
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Data Source: FX Killer Analysis Team Updated: 2025-11-14 11:37
Disclaimer: This article is for reference only and does not constitute investment advice. Forex trading involves risks; please make decisions carefully.