$EURUSD Forex Signal: Volatility Expected Ahead of ECB and US Inflation
Enter your emailWhile this rebound could be a dead cat bounce, there is a likelihood that the pair will keep rising as bulls target the 61.8% retracement level at 1.1230.Timeline: 1-2 days.pair rebounded sharply on Wednesday and on Thursday morning as a risk-on sentiment spread in the market.
The pair will react to several events on Thursday. First, European leaders will conduct a meeting in which they will deliberate the issue on Ukraine. They will also talk about a new round of stimulus to prevent the bloc’s economy from going to a recession. At the same time, many companies are expressing worries about supply chains. For example, automobile firms will struggle to find parts because of the sanctions on Russia. Still, it is unclear the size or structure of the stimulus package that the leaders will offer.
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