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EUR/USD Analysis: Recovery Post Fed's Rate Decision

The EUR/USD currency pair recovered significantly after the Federal Reserve left the US interest rate unchanged at its highest level in 23 years at 5.25%-5.5% for the fifth consecutive meeting in March 2024, in line with market expectations.

EUR/USD Analysis Today 21/3: Recovery Post Fed (Graph)

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    EUR/USD Technical analysis and forecast:

    The EUR/USD currency pair's gains reached the resistance level of 1.0930, recovering from their losses at the beginning of the week, which reached 1.0835. After yesterday's decision, policymakers still plan to cut US interest rates three times this year, similar to the December quarterly forecast. Also, it had indicated three cuts in 2025, one less than in December, and three more cuts in 2026.

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    Mahmoud Abdallah
    About Mahmoud Abdallah
    Mahmoud has been working fulltime in the Foreign Exchange markets for 12 years. Offers his analysis, articles and recommendations at the most renewed Arabic websites specialized in the global financial markets, and his experience gained a lot of interest among Arab traders. Works on providing technical analysis, market news, free signals and more with follow up for at least 12 hours a day, and aims to simplify forex trading and the concept of trading for his audience.
     

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