26 days ago • Posted by Ajmir Omid
Is EURUSD bear market over #ecb #fed #yields #fx #trading
The euro has enjoyed some needed relief since 13th May after extended long positioning on the USD faded. With inflation showing no signs of weakening, money markets are expecting the ECB to raise rates incrementally all the way through to 2023, which should benefit the euro. However, analysts are not very optimistic about the regional economic outlook, rendered uncertain because of the EU energy crisis. Yesterday’s oil embargo on Russia heightened fears of further downward growth revision within the eurozone. FX traders will keep a close eye on price action around key technical levels 1.0640 (support) and 1.0780 (resistance).