As a result of Monday, the euro did not fall, closing the day above Friday, above the balance and MACD indicator lines, and above the resistance of 0.9864. At the moment, the market is trying to win back the difference in sentiment between the Federal Reserve, which is slowing down the pace of rate hikes, and the European Central Bank, which is raising rates by 0.75% the day after tomorrow. We do not know how the market will de facto react to the ECB rate hike, although formally the mood of the players is clearly optimistic.
This optimism in technical terms is expressed in the fact that if the price goes above the upper limit of the price channel and above the resistance of 0.9950, the euro opens a target of 1.0050. But if there is no upward breakthrough, for example, the ECB will raise the rate by only 0.50%, which is already being talked about in the press, or, with a 0.75% rate hike, will copy the Fed’s mood and declare that it is not possible to continue to maintain such a pace for the shrinking economy, the price can easily turn into a medium-term decline with the first target at 0.9724.
The price settled above the level of 0.9864 on the four-hour chart, above both indicator lines, the Marlin Oscillator is in the positive area. We follow the development of the current price growth. Long positions in the current situation is associated with increased risk.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
If you have an interest in any area of Forex Trading, this is where you want to be.
Global Fx Trading Group is a world leader in providing Fx services, o individual traders, including: Unmatched funding programs, on-line education, virtual trading rooms, automation tools, robot building, and personal coaching.
The company was first established by Jeff Wecker, former member of the Chicago Board of Trade, with 25 years in the industry. Jeff has a keen understanding of the needs of Forex traders and those needs are our focus.
Please join our VIP Group while is still FREE …
https://t.me/joinchat/JqsXFBKpyj3YS4bLWzT_rg
Our mission is simple: To enhance as many lives as we can through education and empowerment.
#theforexarmy #forexsigns #forexsignals #forexfamily #forexgroup #forexhelp #forexcourse #forextrade #forexdaily #forexmoney #forexentourage #forextrading #forex #forexhelptrading #forexscalping #babypips #forexfactory #forexlife #forextrader #financialfreedom
