EUR Technical Analysis

EUR/USD goes into the week with markets knowing the Fed's aggressive outlook while the EU continues to be plagued by an energy crisis as we head into winter.

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The European Central Bank needs to hike interest rates by 75 basis points at next week's meeting and confirm that it will continue to tighten monetary policy to throttle back runaway inflation.

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Colder weather tests Europe’s resolve as gas storage gets drawn lower, lifting EU gas prices. ECB and other major central bank’s decide on final rate hikes of 2022

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Economic conditions are improving in Europe ahead of the ECB meeting next week but motivation to ‘stay the course’ remains very strong. Blockbuster week ahead as high-importance risk events stack up (FOMC, BoE, ECB, EU CPI and GDP, NFP and more).

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I see EURUSD tends in bearish sentiment, yesterday price formed a bearish candle with a long body and small shadow reflecting a strong downtrend, however today there is news PMI IN Eurozone, France, and Germany, The middle band line could be the first support in the Daily timeframe.