Market Fundamental Analysis for July 20, 2026 — EURUSD
The euro starts the session under pressure as rising oil prices increase concerns about imported inflation and weaker eurozone growth. Expectations of tighter ECB policy offer some support, but weak business activity limits the currency’s upside.
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The US dollar remains supported by safe-haven demand amid escalating tensions in the Middle East and higher Treasury yields. Markets also expect the Federal Reserve to keep rates elevated for longer if energy-driven inflation strengthens.
Overall, dollar demand currently outweighs support from ECB expectations. If geopolitical risks persist, EURUSD may continue to decline.
Trading idea: SELL 1.1440, SL 1.1470, TP 1.1370
