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Euro Weekly Forecast

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by , 04-11-2022 at 05:06 AM (381 Views)
The European Central Bank policy decision, and press conference, next week look set to be a particularly testing meeting for ECB President Lagarde as she tries to find a policy balance to dampen down rampant inflation while propping up a weak growth outlook. And this comes at a time when other major central banks are already or are fully prepared to, hike interest rates in ever-increasing increments.

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Daily price is located below Ichimoku cloud in the bearish area of the chart. The price is testing 1.0864 support level to below for the strong bearish trend to be continuing with 1.0805 level as a nearest daily target. The daily bullish reversal resistance level is 1.1075, and if the price breaks this level to above so the primary bullish reversal will be started with 1.1184 as a neatest target to re-enter. Alternatively, the price will be on bearish ranging within the levels waiting for the direction of the strong trend to be started.

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