Today, the EUR/USD pair is attempting to attract buyers. Despite the European Central Bank's decision on Thursday to leave interest rates unchanged, the euro is facing headwinds due to ongoing uncertainty surrounding trade negotiations. White House representative Kush Desai stated that any reports of a potential agreement between the U.S. and the European Union should be considered speculative unless personally confirmed by President Donald Trump. This downplays recent media reports suggesting progress in EU–U.S. trade talks, negatively impacting the euro and putting pressure on the EUR/USD pair.

At the same time, the U.S. dollar has been strengthening for the second consecutive day, supported by macroeconomic data released Thursday, which reinforced expectations that the Federal Reserve will keep interest rates unchanged at its July 30 meeting.

Initial jobless claims in the U.S. fell to 217,000—the lowest level since mid-April—while the S&P Global PMI continues to rise for the 30th straight month. These figures may support the Fed's decision to maintain its current policy, which is favorable for the dollar and weighs on the EUR/USD pair.

Meanwhile, during a rare visit to the central bank's headquarters, U.S. President Donald Trump increased pressure on Fed Chair Jerome Powell, demanding interest rate cuts. Growing concerns about potential political interference in the independence of the central bank may deter dollar bulls from taking aggressive positions. Market optimism may continue to limit dollar gains, offering some support to EUR/USD and warranting caution among sellers.

From a technical standpoint, the pair has moved above the 100-period SMA on the four-hour chart, suggesting a positive outlook.

In addition, oscillators on both the four-hour and daily charts remain in positive territory, indicating that the pair is not yet positioned for significant downside.