Forex Signal For EUR/USD: Euro Continues to Crush Ahead of European Central Bank (ECB)
Forex Signal For EUR/USD: Euro Continues to Crush Ahead of European Central Bank (ECB)
The pair will likely continue to rise as long as the bulls target the 50% retracement level at 1,0380 ahead of the ECB rate decision.
Bull Market Outlook
- Buy EUR/USD and take a profit at 1,0380.
- Add a stop-loss at 1,0150.
- Timetable: 1 day.
Forex Signal For EUR/USD: Euro Continues to Crush Ahead of European Central Bank (ECB)
Bear Market Outlook
- Set a sell-stop at 1,020 and a take profit at 1,0150.
- Add a stop-loss at 1,02500.
EUR/USD recovery accelerated after strong European consumer inflation data, hitting its highest point since the beginning of this month as investors refocus on the upcoming ECB rate decision.
It is trading at 1,0230, which is about 2,20% above this month's low.
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