$EURUSD Forecast: Risk mood to drive euro's action on ECB day by eren_fxstreet forex trading
iet above 1.1050 early Thursday as investors await the European Central Bank’s policy announcements and the next round of Russia-Ukraine negotiations. In case risk flows continue to dominate the markets on Thursday, the shared currency could continue to gather strength even if the ECB opts for a dovish tilt in its policy outlook.
Markets, however, have turned cautious on Thursday. Despite Ukraine's seemingly reconciliatory approach to the situation, Russia will reportedly not concede anything in Thursday's talks. US stock index futures are down between 0.2% and 0.3% in the early European session and theLater in the session, the ECB is widely expected to keep its policy settings unchanged.
Nevertheless, the risk perception is likely to have a more significant impact on the euro's valuation against its rivals than the ECB's announcements.EUR/USD faces the first resistance at the 1.1090/1.1100 area . In case the pair rises above that region and starts using it as support, the next bullish target aligns at 1.1160 .Information on these pages contains forward-looking statements that involve risks and uncertainties.
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