The EU predicts prices will increase next week

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Hello dear friends!

The current EU trading session is ending with stability, hovering around the price level of 1.645. It is evident that this currency pair is still following a sideways trend. If we can break out of this trend, there is potential for a higher price level, with an expected figure of 1.067 and even higher at 1.070.

Wishing you all the best of luck.

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Are you looking forward to the new trading week like Brian?

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Opening EU trading with a new increase in price to 1,065

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European Central Bank (ECB) President Christine Lagarde mentioned to lawmakers at the European Parliament that interest rates will remain elevated for as long as necessary to control inflation. However, her comments did not support the Euro, which slid to daily lows across the board following her testimony.

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Absent another negative shock for the Eurozone economy such as the price of Oil surging back above 100/barrel, we expect the pair to find it harder to break out below the bottom of the 1.0500 to 1.1000 trading range in the month ahead.