19 April 2023, EUR/USD
EURUSD trading plan:
European Central Bank officials are still banging the inflation drum and suggesting interest rates must keep rising, but there's enough nervousness about banks or a possible policy misstep to mean they face an uphill battle convincing market. Having firmly scaled-back rate expectations amid last month's market turmoil, investors no longer expect borrowing costs to stay higher for longer and are cautious about pricing in a deposit rate above 4%. As well as fretting about other potential skeletons in the banking sector's closet, traders are worried about what effect the quickest rate-hiking cycle since the adoption of the euro will have on the 20-country currency bloc's economy.
Investment idea: range 1.0900 - 1.0990.
Join our community on Facebook! Every week we give $50 to the trading account to the authors of the most accurate forecasts.