US Dollar Under Pressure Ahead of ECB Meeting. Forecast as of 23.07.2026

Geopolitics, the rally in oil prices, and rising Treasury yields have taken a back seat ahead of the ECB meeting. Markets are looking for signals that the ECB could raise interest rates in September, supporting the EUR/USD pair. However, will traders start selling once those expectations become reality? Let's examine the outlook and develop a trading plan.Major Takeaways The EUR/USD pair is rising despite unfavorable market conditions. The euro is being bought on rumors of ECB action. Kevin Wars