Euro / U.S. Dollar

2023-03-20 EURUSD daily and weekly idea

93
The good news of last Friday has already come out, so unless the Federal Reserve on the 24th is more dovish, it will be difficult for the market to continue to rise, at least there will not be too much room for growth. I see more foreign exchange, and the euro is a relatively obvious daily rebound. After the news of the Fed hits the ground, it is very likely that there will be another weekly correction. Especially the weekly support around 1.036

Of course, from a good point of view, the euro's weekly gains have already shown that the monthly rebound is about to start, but it is necessary to wait patiently for the timing and point of callback.

Personally, I prefer to observe the specific trend after the Fed's interest rate meeting, and avoid the sharp roller coaster that appeared during Powell's speech.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.