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Today’s May 10, 2024 EURUSD Technical Analysis and Market Updates by Guriforex:

We’re here for today’s May 10, 2024, EURUSD Technical Analysis and Market Updates. Let’s dive into the analysis without delay:

On Thursday, the EURUSD went up as the US Dollar dropped due to a rise in US Initial Jobless Claims. This raised hopes for interest rate cuts by the Federal Reserve.

Looking forward, the Eurozone’s economy is not doing great, while the US economy is holding up well. This suggests the Dollar might get stronger in the coming months, especially if the European Central Bank cuts rates before the Fed does.

So, there’s a chance the EURUSD might keep going down in the near future. Let’s keep an eye on it!