EURUSD: Euro outlook next week
Updated
Next week, the ECB's monetary policy meeting will be held on Thursday, and important economic indicators from Germany will also be announced, so the euro may fluctuate significantly.
This week, a number of central bank officials spoke out against overly optimistic markets about a rate cut in 2024.
Next Thursday's ECB Governing Council meeting is likely to be too early for ECB President Christine Lagarde to start setting a concrete schedule for interest rates, and markets will wait until the next Governing Council meeting on May 7 for more information. would have to.
Next week will see the release of the German and European PMI reports, the IFO annual report and the German Consumer Confidence Index. This data should be closely monitored as the German economy remains weak.
EUR/USD broke out of a channel pattern on Tuesday and is currently trading below the 200-day SMA of 1.0850. The current support level for this pair is 1.0787, but resistance areas at 1.0950 and 1.1000 are also observed.
This week, a number of central bank officials spoke out against overly optimistic markets about a rate cut in 2024.
Next Thursday's ECB Governing Council meeting is likely to be too early for ECB President Christine Lagarde to start setting a concrete schedule for interest rates, and markets will wait until the next Governing Council meeting on May 7 for more information. would have to.
Next week will see the release of the German and European PMI reports, the IFO annual report and the German Consumer Confidence Index. This data should be closely monitored as the German economy remains weak.
EUR/USD broke out of a channel pattern on Tuesday and is currently trading below the 200-day SMA of 1.0850. The current support level for this pair is 1.0787, but resistance areas at 1.0950 and 1.1000 are also observed.
Note
💵EURUSD BUY NOW 1.0906💵✔️TP1 1.0936
✔️TP2 1.0966
❌SL 1.0850
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