European Central Bank Maintains Easing, EURUSD May Fall Under Pressure
The European Central Bank’s statement was more dovish than expected, and the Russian-Ukrainian conflict may cause the economy to decline, which is not conducive to the rise of EURUSD.
Radicals can be marginal short at 1.0805, Target 1.0755, and Stop-Loss by 1.0834. Stable investors could wait for short-term stability.
The European Central Bank held an interest rate meeting last week, maintaining the three key interest rates, and the monthly decline in its asset purchase program. The statement after the meeting pointed out that the asset purchase is expected to end in the third quarter, and the interest rate hike will not begin until the end of the asset purchase program. No hawkish remarks were made by members this time, only pointing out that inflation may rise and the conflict between Russia and Ukraine may lead to the risk of economic downturn. At present, the Russia-Ukraine negotiation has not achieved concrete results. Western countries continue to provide weapons to Ukraine, and the war between the two countries in the eastern part of Ukraine has become increasingly fierce. It also means that Russia and Ukraine are far longer than expected to achieve peace, which may exacerbate the original inflation and supply chain bottlenecks. The euro zone may suffer a greater economic impact, which is not conducive to the rise of EURUSD.
Daily K closed fall, below 5, 10, 20, 60MA, the short-term is weak and oscillating. In the 4H level K line, KD is dead cross and falling, the MACD maintains a negative column, the bearish momentum continues. It is recommended to wait for the price to rebound and go short with light positions.
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Disclaimer: Information above can only be use for references and doesn’t represent our platform’s opinions.