Outlook for EURUSD remains bearish ahead of ECB meeting

As of June 8, 2026, EURUSD continues to decline. Earlier today, the pair hit 1.1527, landing near its April lows. After falling sharply last Friday, prices managed to form a small green candle on Monday—a sign that sellers temporarily lost their grip, allowing buyers to slightly stabilize the situation.

The overall technical picture remains rather bearish, though it does not rule out the probability of a short-term rebound. The pair has slid beneath the lower Bollinger Band (1.1531), confirming the strength of the recent downtrend. In the meantime, the Stochastic Oscillator has just approached oversold territory, but its %K line is still above the %D one, pointing to a further downside. The green candle, combined with the current technical setup, could hint at the beginning of a recovery. However, solid signs of a reversal have yet to emerge.

Trading volumes are not particularly encouraging either. The Accumulation/Distribution Indicator (A/D) has recently dropped, reflecting capital outflows from long positions and a predominance of selling. The decline has now slowed, with prices stabilizing near local lows. Still, the A/D Indicator has yet to show signs of a sustained recovery, suggesting that the market is not poised for a new upward move. In other words, any rebound is likely to be modest.

The fundamental landscape also favors the dollar. Strong US labor market data have raised expectations that the Federal Reserve (Fed) could maintain tighter monetary conditions for longer and adopt an even more hawkish stance. Geopolitical instability in the Middle East is another tailwind for the greenback. Meanwhile, the European Central Bank (ECB) appears ready to raise interest rates at its June 11 meeting in response to accelerating energy-driven inflation. However, weak business sentiment in the region and stagflation risks continue to limit the euro’s upside.

Pay attention to the following trading plan:

Sell EURUSD from 1.15300, with Take profit at 1.14400 and Stop loss at 1.15950.

This forecast remains relevant between June 8 and June 15, 2026.