Hi everyone. From a technical viewpoint the EUR/USD traded up to the previous swing high range filling in market imbalances in the form of a fair value gap as a result of impulsive bearish price delivery, reacting from a 4h breaker block. Considering the current economic climate we could be headed to the previous September lows with a probability of trading to new lows.
Furthermore, earlier in the day, European Central Bank (ECB) President Christine Lagarde was on the wires and noted that a recession would not be sufficient to settle inflation, although adding that inflation expectations are broadly anchored at the moment. Finally, she said that European policymakers have to “be attentive to spill-overs from the Fed policy.”
Hope this analysis has been useful and safe trading.
Aman | SMC Wolf FX
Furthermore, earlier in the day, European Central Bank (ECB) President Christine Lagarde was on the wires and noted that a recession would not be sufficient to settle inflation, although adding that inflation expectations are broadly anchored at the moment. Finally, she said that European policymakers have to “be attentive to spill-overs from the Fed policy.”
Hope this analysis has been useful and safe trading.
Aman | SMC Wolf FX