EURUSD short trade oppurtunity amid ECB rate halt
Updated
Driven by recent ECB rate decisions and technical indicators. The ECB's pause on rate hikes amid lingering inflation concerns has led to a mild appreciation in the pair, closing at $1.05930 during the week ending October 20, 2023. However, technical analysis reveals a broader bearish trend with critical support at 1.0500. A break below this level could signify a stronger bearish control.
Entry Point: 1.0566
Take Profit: 1.0500
Stop Loss: 1.0600
Entry Point: 1.0566
Take Profit: 1.0500
Stop Loss: 1.0600
Trade closed: stop reached
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