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The EUR/USD pair extended its decline, trading below 1.1480 as bears target further losses. A key bearish trend line is forming on the 4-hour chart with resistance at 1.1550, indicating potential for fresh lows. GBP/USD also fell below 1.3320, while crude oil prices are expected to test $112. Technical analysis suggests the Euro failed to hold above 1.1550 against the US Dollar, reinforcing bearish momentum. This development is critical for forex traders, as a breakdown below 1.1480 could trigger a wave of short-term selling. The EUR/USD pair's technical structure shows weakening bullish sentiment, with the 1.1550 level acting as a psychological barrier. Meanwhile, rising crude oil prices may impact global markets, particularly energy-linked assets. For investors in the MENA region, a sustained EUR/USD decline could affect Gulf-based forex positions and hedging strategies. Traders should monitor the 1.1480 support level and watch for cross-asset correlations, such as oil price movements influencing risk appetite. Central bank policies and EUR/USD volatility will remain key focus areas in the coming weeks.
