EUR/USD bounces back as focus turns to ECB
Ahead of the ECB policy decision, the EUR/USD bounced back quite sharply to turn back positive on the week and rise above parity. Is this the start of a new counter-trend rally or just short-covering ahead of a key risk event? It is worth watching the EUR/USD to see how it fares by the close of play, when traders will have digested the ECB move and Powell's speech.
If we get a close well above parity then this will provide the bulls with something to work with in the coming days. With rates being significantly oversold and dollar becoming a very crowded traded, the EUR/USD could certainly find relief. A potential 75 basis point hike from the ECB might provide the currency pair some life.
If we get a close well above parity then this will provide the bulls with something to work with in the coming days. With rates being significantly oversold and dollar becoming a very crowded traded, the EUR/USD could certainly find relief. A potential 75 basis point hike from the ECB might provide the currency pair some life.
Pernyataan Penyangkalan
Informasi dan publikasi tidak dimaksudkan untuk menjadi, dan bukan merupakan saran keuangan, investasi, perdagangan, atau rekomendasi lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Persyaratan Penggunaan.