Upbeat US employment data pushed the EUR/USD lower. Investors expect the Euro Area interest rate to be held at the coming meeting. The bulls have returned to the daily chart. The weekly forecast for the EUR/USD is bullish as the pair closed the week with net gains. Meanwhile, the ECB meeting could push the pair back to 1.1000. Ups and downs of EUR/USD The EUR/USD has had quite a busy week, starting with the EU leaders’ summit held on Monday and Tuesday. This meeting saw EU leaders decide on a 90% ban on Russian oil imports. The pair closed higher on Monday. The pair closed lower on Tuesday after data showed that consumer confidence in the US came in higher than investors expected. -Are you interested in learning about the best AI trading forex brokers? Click here for details- Upbeat manufacturing data in the US released on Wednesday saw the pair close lower as the dollar went up. On Thursday, the pair changed direction on poor private-sector payroll data and closed Friday down on positive NFP data. Next week’s key events for EUR/USD Next week will be a big week for the EUR/USD as investors are expecting a lot of important news releases from the Euro Area and the US. Investors will pay attention to inflation and consumer sentiment in the US. The inflation data is crucial as it will shed light on whether the Federal Reserve is succeeding with its current monetary policy. Investors will be most interested in the ECB interest rate decision and press conference in the Euro Area. With the unexpected rise in inflation for May, the ECB’s reasons for a relaxed monetary policy are no longer persuasive. The ECB’s task is getting more difficult, especially after the partial ban on Russian oil. These restrictions on energy imports are bound to keep Europe’s prices high, making stagflation a real risk. Investors expect the current rates to hold. Get FREE Forex Signals Now! EUR/USD weekly technical forecast: Bulls aiming at 1.1000 The daily chart for EUR/USD shows a new bullish trend. The price has broken above the 22-SMA and is trading above it. RSI is also trading above the 50 level, which shows bullish momentum is back. If bulls can maintain this momentum, we could see the price breaking above 1.0800 and pushing towards 1.1000. -Are you interested in learning about the forex indicators? Click here for details- There is also the possibility that bears might come back. This return could see the price break back below the 22-SMA. Until then, the bias for EUR/USD remains bullish. 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 Forecast share Read Next GBP/USD Price to Continue Last Week Momentum as Greenback Regains Saqib Iqbal 8 months Upbeat US employment data pushed the EUR/USD lower. Investors expect the Euro Area interest rate to be held at the coming meeting. The bulls have returned to the daily chart. The weekly forecast for the EUR/USD is bullish as the pair closed the week with net gains. Meanwhile, the ECB meeting could push the pair back to 1.1000. Ups and downs of EUR/USD The EUR/USD has had quite a busy week, starting with the EU leaders' summit held on Monday and Tuesday. This meeting saw EU leaders decide on a 90% ban on Russian oil imports. The pair closed higher… 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.