EUR/USD Downtrend Continues Amid First Bank Takeover, ECB and Fed Rate Hikes
EUR/USD remains under pressure as ECB hawks retreat amid downbeat EU data and First Republic roils the mood. Additionally, the market is waiting for the Fed and ECB announcements this week. Given the current trend, a sell signal is suggested with an entry price of 1.1000, a stop loss at 1.1080, and a take profit at 1.0850. A risk to reward ratio of 1:2 is recommended. Traders should closely monitor the market events and adjust their positions accordingly.
Things to Watch Ahead in the Market this Week | Forex Traders Market Watch
Investors trying to gauge the inflation threat will keep a close eye on Thursday’s U.S. consumer price data, amid concerns that rising inflation could prompt the Federal Reserve to begin pulling back on stimulus. Markets will also be monitoring the progress of President Joe Biden’s proposed $1.7 trillion infrastructure plan, which has already boosted the […]