Risk-free markets remain under pressure, as the EUR/USD holds the previous day’s pullback from the weekly high. As inflation worries recur ahead of the US jobs report, bullish sentiment towards the US dollar peaked. A slowing economy, the Russian-Ukrainian crisis and the ECB’s departure from the Fed give sellers hope. The EUR/USD outlook is bearish as inflation concerns play a role before key US non-farm payrolls (NFP) figures are released en route to Friday’s European session. –Are you interested in learning more about spread betting brokers? Check our detailed guide- On the other hand, the major currency pair fell the most in a week the day before after the Bank of England’s (BOE) dovish economic outlook raised the US dollar’s value on its traditional safe-haven appeal. However, recent hawkish comments from Germany’s IFO head have challenged the bearish pair. According to Reuters, Ifo CEO Clemens Fuest said a rise in the US interest rate leads to an appreciation of the US dollar against the Euro, which increases inflationary pressure in Europe. According to the news, “the ECB is under some pressure in this regard.” In other news, a quarter-end monetary policy statement by the Reserve Bank of Australia raised inflation expectations sharply for 2022 and 2023, following the Bank of England’s double-digit inflation outlook. In addition, a measure of price pressure is also shown by Japan’s Consumer Price Index (CPI). Market sentiment and the EUR/USD exchange rate are also affected by concerns related to economic conditions in China and the Russian-Ukrainian crisis. The sentiment is reflected in S&P 500 futures, returning to yearly lows hit by at least 0.10% earlier this week, while 10-year yields have reached their highest level since late 2018, which ended on Thursday. Traders will watch the Fedspeak block report, and second-tier data ahead of the US jobs report and intermediate-risk catalysts. For example, forecasts suggest that US non-farm payrolls (NFP) may fall from 431K to 391K and that the unemployment rate may drop from 3.6% to 3.5%. The EUR/USD should continue to decline if the jobs report does not show an easing of the jobs crisis. Get FREE Forex Signals Now! EUR/USD price technical outlook: Bears eying range breakout The EUR/USD price found interim support just below the 1.0500 mark. The pair is playing within the range. Hence, the traders should watch the range breakout to find decent trading opportunities. –Are you interested in learning more about Australian brokers? Check our detailed guide- The volume data lies in favor of the bears. Hence, the pair may slip towards the 1.0400 level ahead of 10260 and finally hit the parity level around 1.000. Looking to trade forex now? Invest at eToro! Trade Forex Now! 68% 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: Sell USD/JPY – 6 May 2022 Olimpiu Tuns 3 days Risk-free markets remain under pressure, as the EUR/USD holds the previous day's pullback from the weekly high. As inflation worries recur ahead of the US jobs report, bullish sentiment towards the US dollar peaked. A slowing economy, the Russian-Ukrainian crisis and the ECB's departure from the Fed give sellers hope. The EUR/USD outlook is bearish as inflation concerns play a role before key US non-farm payrolls (NFP) figures are released en route to Friday's European session. -Are you interested in learning more about spread betting brokers? Check our detailed guide- On the other hand, the major currency pair fell the… Top 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.