EUR/USD – Week 10 – Downtrend to continue.
As we forecasted in our last analysis, the Euro continued its rally, breaking the $1.19 level backed by a strong jobs report data in the United States. As you can see in our chart, the price broke strongly through our trendline which is an indication that it could continue its depreciation. be heading below the $1.18 level.
For this week, we expect a pullback and a trend continuation that could be heading below the $1.18 level.
The ECB decision on monetary policy will be the most important economic news event for this week. Policymakers will likely keep rates on unchanged but could accelerate the pace of assets purchases to counter rising bond yields, which could affect growth prospects.
Trade with care.
Best regards,
Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
For this week, we expect a pullback and a trend continuation that could be heading below the $1.18 level.
The ECB decision on monetary policy will be the most important economic news event for this week. Policymakers will likely keep rates on unchanged but could accelerate the pace of assets purchases to counter rising bond yields, which could affect growth prospects.
Trade with care.
Best regards,
Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
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