Monthly EUR/USD UpdateEuro vs US DollarFPMARKETS:EURUSDSaltNuggetFund After the spring euphoria for the euro and the pound (GBP), the dollar seems to have slowed its pace, having largely priced in the scenario of a less restrictive monetary policy by the Fed. Focusing on EUR/USD, instead of congestion, we are seeing a bullish sideways trend that has persisted since August 22, 2025. While not immune to challenges, the European economy shows signs that support this phase, although attention remains high. Conversely, the US economy is suffering in terms of the labor force, and inflation remains "sticky." However, it should be noted that several other economic indicators (e.g., PMIs or retail sales) remain strong. All this compels Jerome Powell to maintain constant vigilance over incoming data to best balance future choices. The upcoming NFP (Non-Farm Payrolls) release will undoubtedly provide further clues. For now, the sideways range perfectly reflects this state of uncertainty. Seasonally, the dollar has historically found significant strength during this part of the year, but no one can predict the future. Plausible Scenarios These are the two most plausible scenarios based on the data that will be released: Downside (Retracement Risk): A break of the dynamic support at 1.16465 could trigger a retracement of the trend down to the 1.14 area. Upside (Continuation): Conversely, a hold of the support and weak US data could lead the price to retest the previous highs and push even further. For the moment, we continue to witness a sideways phase with an accumulation of volumes. Happy trading to all! Disclaimer WARNING: These are market data analyses and forecasts, and they do not constitute financial advice in any way. Trading involves the risk of capital loss.