EURAUD
Updated
European Central Bank policymakers expressed cautious optimism on Thursday that inflation was on its way back to 2% even without more rate hikes and raised pressure on governments to maintain the sort of fiscal discipline needed for a soft landing of the economy.
The ECB raised its key interest rate to a record high of 4.0% last month but signaled that its 10th hike in a 14-month-long effort to bring down inflation may be its last, at least for now, as the economy was slowing and could even dip into recession.
We have RBA next week and they look like possibly hiking too after the hot CPI and PPI from last week.
Technically I want to see a break retest of the purple zone.
The ECB raised its key interest rate to a record high of 4.0% last month but signaled that its 10th hike in a 14-month-long effort to bring down inflation may be its last, at least for now, as the economy was slowing and could even dip into recession.
We have RBA next week and they look like possibly hiking too after the hot CPI and PPI from last week.
Technically I want to see a break retest of the purple zone.
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A break of the purple zone would break a long term channel + nexk of the daily head and shoulder + the Daily 100 MA.
That would be the kind of move we could see
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Good entry but I won't mind a deeper pullback
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We got the Australian RBA interest rate decision coming up.The initial focus will be on the rate decision but we will focus on the change of language following the most recent batch of data.
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I am still short on that pair
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