EUR/USD Under Pressure Amid Key Economic Events

2 ธ.ค.

The EUR/USD pair began the week with notable selling pressure, trading near the 1.0500 level at the time of writing. The Asian session opened with a bearish gap that remains uncovered, with the pair declining by nearly 75 pips so far. Market participants are closely watching upcoming events, including a speech by European Central Bank (ECB) President Christine Lagarde and the release of the US ISM Manufacturing Purchasing Managers' Index (PMI) later today.



Technical Outlook
From a technical perspective, the pair’s downward momentum aligns with earlier forecasts, suggesting a potential move toward the next demand zone around 1.0100 in the coming sessions.

Commitment of Traders (COT) Analysis
Recent COT reports reveal that retail traders have increased long positions in the pair, while non-commercial entities remain bearish. This divergence highlights contrasting market expectations. A strong ISM Manufacturing PMI reading could amplify the pair’s downward trajectory, further pressuring the euro.

As the market digests these developments, traders should remain cautious and adapt strategies based on upcoming economic data and central bank commentary.

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