Technical Analysis:
EURUSD is currently near 1H bearish zone, once price gives MSS on 15min to the downside we can look for selling opportunities in EU and target 1.10019.
Fundamentals:
The European Central Bank cut interest rates for a second time this year, bringing the key deposit rate down to 3.50% from 3.75%. The decision was widely anticipated and market reactions were limited as a result. The hurdle for a follow-up cut in October looks high, particularly as the central bank revised up forecasts for core inflation, and most analysts expect the next rate reduction will be in December. Below is a selection of comments from analysts and fund managers.
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