EUR/USD slightly gains on the day ahead of the key ECB meeting. In the past week, market sentiment has been shaken by heightened fears of a slowdown in the economy’s recovery. Robert Kaplan’s hawkish remarks also added to the dollar’s strength. Kaplan also called for a reduction in October. The EUR/USD pair forecast shows mixed sentiment as the market awaits the ECB meeting on the day. In addition, Fed’s recent hawkish comments keep the lid on the gains. The EUR/USD pair is trading at 1.1824, up 0.10%, at writing. -Are you looking for automated trading? Check our detailed guide- With moderate intraday demand above 1.1820, the EUR/USD pair bounces off weekly lows ahead of the European Central Bank’s (ECB) key monetary policy decision on Thursday. However, the listing develops a three-day downtrend simultaneously, as pair traders repeat the lull that persisted before the ECB and favors bullish moves in the regional currency (Euro). Despite the surge in inflation, it seems the central bank will maintain its ultra-weak policies. Nevertheless, we will certainly discuss tapering. The tone of EUR/USD will be set by what policymakers say. A revision of inflation and growth forecasts is also expected by the ECB. Get FREE Forex Signals Now! In the past week, market sentiment has been shaken by heightened fears of a slowdown in the economy’s recovery, including the Fed’s Beige Book, which signaled a slowdown. However, it is important to note that the rapid spread of Delta Covid could turn the economic recovery into a train wreck. Robert Kaplan’s hawkish remarks also added to the dollar’s strength. Kaplan also called for a reduction in October. Risk-averse sentiment continues to pressure US Treasury bond yields despite negotiated reductions. Several Asian indices, including S&P 500 futures, have lost ground. We will also be watching the US unemployment data, and President Biden’s much-discussed pandemic plan shortly, in addition to the ECB data. -If you are interested in forex day trading then have a read of our guide to getting started- EUR/USD price technical forecast: Bears may break 1.1800 EUR/USD 4-hour price chart forecast The EUR/USD price finds resort at 200-period SMA on the 4-hour chart. The average daily range is 30% so far which is low. It means the traders are waiting for the ECB meeting decision. Despite a slightly positive tone, the price may find a hurdle at 20-period SMA around 1.1845. Staying below the 20-period SMA will likely keep bears active, aiming for 1.1800 and lower. On the upside, if 1.1845 (20-SMA) is broken, the pair may aim for 1.1910 (double top). Looking to trade forex now? Invest at eToro! Trade Forex Now! 75% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money. Saqib Iqbal Saqib Iqbal Saqib Iqbal is a market analyst, prop fund trader and mentor, serving the industry with his analysis and educational content since 2011. The author has great exposure to different financial markets and institutions. He's well-known for his day trading reviews and multiple timeframe analysis. View All Post By Saqib Iqbal EUR/USD Daily share Read Next Free Forex Signals and Forecast: Buy NZD/USD – 09 September 2021 Saqib Iqbal 1 year EUR/USD slightly gains on the day ahead of the key ECB meeting. In the past week, market sentiment has been shaken by heightened fears of a slowdown in the economy's recovery. Robert Kaplan's hawkish remarks also added to the dollar's strength. Kaplan also called for a reduction in October. The EUR/USD pair forecast shows mixed sentiment as the market awaits the ECB meeting on the day. In addition, Fed's recent hawkish comments keep the lid on the gains. The EUR/USD pair is trading at 1.1824, up 0.10%, at writing. -Are you looking for automated trading? Check our detailed guide- With… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.