EUR/USD is steady after finding support below 1.15 last week. Many believe that 1.15 could be the lowest point, but external events may be needed for a rally to happen. If the US government shutdown ends and delayed information, like the US non-farm payrolls report for September or October, is released, this could spark movement. However, these events are uncertain as the week begins.

Eurozone Data and Analysis

This week, Eurozone data includes the German ZEW sentiment survey and confirmation of third-quarter GDP growth at 0.2% quarter-on-quarter. For EUR/USD to hold support early in the week, it should stay within 1.1515 and 1.1530. The FXStreet Insights Team gathers observations from experts, adding insights from both internal and external analysts. The EUR/USD pair is currently stuck after finding a support level below 1.1500 last week. With the recent end to the US government shutdown, the market is unclear about its direction. The 1.1470 low from early November is important, but any rally will need a strong push. A possible trigger could be the delayed US economic data, especially the October Non-Farm Payrolls report, now set for this Friday. Market expectations suggest a modest increase of 130,000 jobs, mainly affected by the shutdown. A number much lower than this could briefly lift the euro, but we consider this a weak hope.

Eurozone Challenges and Market Strategies

We are monitoring the German ZEW investor survey coming tomorrow, which has been negative for the last five months. Additionally, the final Q3 GDP figure is expected to confirm slow growth at 0.2% quarter-on-quarter, showing continuing economic differences from the US. These reports are unlikely to provide the surprise needed to trigger a rally. For derivative traders, this suggests that implied volatility may stay low in the short term, making options strategies like straddles or strangles relatively affordable ahead of Friday’s US data. The key support level to watch is 1.1515/1.1530 for any signs of renewed buying interest. This tight, news-driven market feels similar to the summer of 2023 when patience paid off during the eventual breakout. Create your live VT Markets account and start trading now.

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